Opening a Donor Advised Fund allows your family to make a gift to West Central Initiative, then remain actively involved in suggesting uses for your gift.
How it works
Your family makes a gift to West Central Initiative — you can give cash, appreciated stocks, real estate, or other assets.
We set up a special fund in your family’s name.
Your family receives tax benefits in the year your gift is made.
Your family recommends uses for the fund — working with our professional program staff to support the causes and organizations you care about most.
Your recommendations are presented to the West Central Initiative board for approval.
We handle all the administrative details and issue grants to charities in the name of the fund your family establishes (if you prefer, grants can be made anonymously).
Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
More benefits
Donor Advised Funds provide a convenient, flexible way for your family to get involved with your community and with one another. This type of fund is typically less costly to administer than other forms of philanthropic giving (such as a private foundation), but it still allows you to establish a charitable legacy in your family’s name, fulfill multiple charitable interests, and teach giving values to the next generation.
By working through your community foundation, you can choose to combine your gift with others to increase the impact in areas your family cares about most. Gifts typically qualify for maximum tax benefit, and you take advantage of the expertise of our professional program staff and investment managers. Your family can establish a fund today and make grant recommendations now or in the future.
Community foundations provide a simple, powerful, and highly personal approach to giving. We offer a variety of giving tools to help people achieve their charitable goals.
You can make a gift of cash, stocks, bonds, real estate, or other assets to your community foundation. Most charitable gifts qualify for maximum tax advantage under federal law. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact your community foundation.
Take the Next Step
To learn how you and your family can start a donor advised fund, contact: Kim Embretson, vice president of development
phone: 218-739-2239, or 800-735-2239
email: kim@wcif.org
