The Dallas Foundation can work with an existing private foundation to minimize administrative burdens, secure maximum tax deductions, involve family members and achieve grant making goals.
Minimizing or Eliminating Administrative Burdens
Clients who established private foundations years ago may find them no longer suitable or convenient. In some cases, no family members or friends are available to run the foundation as volunteers, the administrative burdens have become a nuisance or the size of the private foundation now makes it difficult to justify the operational costs. Whatever the situation, working with The Dallas Foundation offers a great alternative.
Meeting Annual Distribution Requirements
Private foundations might not receive sufficient applications within its focus area, or a favored project might not be quite ready to proceed. In these situations, a donor advised fund can be created at The Dallas Foundation; a private foundation can then contribute all or part of the current year's required distribution to the fund.
Identifying Worthy Recipients
With more than 1.5 million public charities in existence nationwide, and thousands locally, it can be challenging for private foundations, particularly those with little or no staff, to identify the worthiest agencies. In such a case, the private foundation could create a fund at The Dallas Foundation and then ask our grantmaking staff to develop a portfolio of charities for the private foundation's consideration and recommendation.
Making Grants Anonymously
For any number of reasons, a private foundation might want to support a nonprofit anonymously. If so, the private foundation could establish a donor advised fund at The Dallas Foundation, then recommend that a grant from the fund be made anonymously to the ultimate beneficiary.
To learn more about working with The Dallas Foundation, contact us.