If you want to make the most of your philanthropy and set yourself up for long-term success, starting a private foundation now can help you avoid the holiday rush. Another reason not to wait? There are a few lucrative benefits that you can still take advantage of this year.
Check out the top reasons to establish a private foundation before the busy giving season.
You’ll be ready to help during the busiest charitable time of the year.
Year-end appeals from charities are nearly endless during the holidays. Establishing your foundation in advance of the giving season readies you to help as much as you can—long before the chaos sets in. It also affords you valuable time to do your research, such as identifying the best nonprofits to support, so you can allocate your funding and support most impactfully.
You’ll have more time this year for strategic philanthropic and financial planning.
Effective planning requires time—something there never seems to be enough of during the year-end holidays. While the actual process of starting a foundation is easy with the help of experts—Foundation Source can help you do so in less than a week—why try to squeeze it in during the holidays when, likely, you’re already extra busy? Setting it up sooner will afford you, your foundation members and your professional advisors ample time to best plan for how you can maximize your charitable giving and benefit your finances.
You’ll build awareness of your foundation.
With your foundation established before giving season, you’ll be ready to engage with the myriad charities that will surely solicit your support. While you likely can’t assist all of them, welcome the chance to learn about them and promote your foundation to increase visibility of your charitable focus. Another great way to build awareness? Ensure your good works have a great website.
You’ll start and secure your family’s legacy
Private foundations are designed to operate in perpetuity, making them the ideal tool for creating a lasting legacy. When you link your name with your philanthropy through a foundation, it expresses your values and provides a blueprint for future generations to carry your charitable vision forward. Plus, the State of Delaware’s database, a preferred location for the incorporation of foundations, has limited names…so the sooner you can lock yours in, the sooner your legacy will be secured.
Want to see the rest of the benefits?
Check out our infographic.
Did you know…
We can help you create a private foundation in less than a week! Call 800.839.0054 or send us an email at . Together, let’s #begiving.
