Limitless Philanthropic Capabilities
Much of what is written about private foundations focuses on their restrictions — what you can’t do. In truth, the IRS allows private foundations wide latitude to undertake creative, inventive, effective philanthropy that couldn’t be accomplished by other means. If you want versatility, a private foundation is the best possible charitable vehicle to bring your philanthropic vision to fruition.
Making donations to public charities will always be the cornerstone of foundation giving, but inspired philanthropists go beyond the simple transfer of funds to 501(c)(3) organizations. Whether giving to an orphanage in India that has never heard of an IRS 501(c)(3) designation or a hardware store in Newark running a safe trick-or-treating program for kids in tough neighborhoods, the IRS allows you to fund most any charitable cause as long as you follow the rules.
Using your creativity along with Foundation Source’s expert advice, you can unleash the full potential of the private foundation. In this article, we outline ten things that you might not realize you can do with this powerful charitable vehicle.