It’s Foundation Friday and we are excited to share part two of our interview with Chris Burns, President of The Reid Burns Foundation and spotlight the work they are doing to support wildlife conservation. Read on to learn more about his foundation, his experience working with Foundation Source, and advice for philanthropists looking to start or grow their foundation. Missed part one of our interview? Check it out here!
About Your Foundation
How do you engage your family in your foundation?
I keep my wife and daughter informed and encourage them to find organizations that they care about so we can include them in future grants, regardless of what their focus is. My wife is taking the trip to Africa with me. She also participated in the Marine Mammal Center events and attended a recent Wildlife Conservation Network conference in San Francisco.
What is one long-term goal for your foundation?
A sustainable, healthy and diverse planet: Small goal! Otherwise, we are looking at Mars as plan B, which doesn’t look very appealing at this point!
Do you have any advice for people looking to start or grow their own private foundation?
Yes, find something you are passionate about and follow your heart. It could be specific diseases that have affected your family such as cancer, education or wildlife. Stay involved and watch where the money goes. Get feedback and refine as you go.
Is there a unique foundation feature that has helped you pursue your mission?
I’m not a fan of doing taxes (understatement). I am very happy that Foundation Source provides the services to file on behalf of the foundation each year so that I can rest easy knowing that the foundation is providing a legitimate accounting to the government.
Working with Foundation Source
How does Foundation Source help you achieve your goals?
By providing an easy web interface and the ability to search for legitimate charities online. It’s very easy to make a grant available if the charity is registered in the US.
Can you tell us a little about your experience working with the Foundation Source team?
The team has been very interactive and quick to answer questions that I have. Having a dedicated point person also helps to simplify the interactions.
How was the process of getting your private foundation set up or transitioned to Foundation Source?
My investment advisors and Foundation representative helped me out with the process, which went smoothly. Note that there is a 5% minimum distribution requirement per year by law, so it helps to keep an eye on that and not have to scramble at the end of the year to meet the minimum.
Want to learn more about the ways we support private foundations?
Whether you are looking for support for your existing foundation or want to create a private foundation, our philanthropic specialists are here to help. To learn more, schedule a call with us here or reach us at 800-839-0054. Together, let’s #begiving.