Benefits of Creating a Charitable Fund

Many reasons persuade donors to give through Dade Community Foundation, including our grantmaking expertise, accountability, permanence, flexibility, simplicity and the ability of the donor to receive public recognition or remain anonymous. Donors can think of Dade Community Foundation as their own personal philanthropy service. The Foundation will help secure a legacy of giving through the establishment of a charitable gift fund that will receive full access to the Dade Community Foundation's expertise and knowledge of the community.

Dade Community Foundations focuses on building endowment, allowing donors to create a force for good and legacy of giving.

Dade Community Foundation Benefits to the Donor

Grantmaking Experience With more than 40 years of experience in Miami-Dade County, the Foundation provides an unparalleled knowledge of the community's needs and concerns. That knowledge is always available to guide your grantmaking. Foundation staff will advise you on ways to make the most of your charitable gifts by targeting your contributions to grants that will do the most good in the community.

Financial Benefits Contributing through a community foundation is cost-effective. The Foundation gives you an immediate deduction for your charitable contribution while offering the opportunity to participate in grantmaking at a later date. Because the tax code favors contributions to a community foundation over those of a private foundation, your gift will generally rate a higher deduction than the same amount donated to a private foundation. Dade Community Foundation administers assets of over $170 million, so administrative costs are minimal, yet donors enjoy the benefits and services of a substantial foundation.

Effective Leadership and Accountability A Board of Governors composed of knowledgeable community leaders representing the diversity of our community provides overall direction and policy. The Foundation is fully accountable to the community. Our records are public and our programs are carefully monitored. An independent audit ensures fiscal responsibility. The Foundation's Annual Report details activities and contributions on a calendar year basis.

Permanence, Stability and Simplicity Established in perpetuity, the Foundation ensures that your gift will be truly lasting. Your generosity will make an impact on the community forever. The Foundation can receive many different types of assets and make grants to a wide variety of community organizations. This flexibility enables donors to meet their charitable and financial objectives. Creating a Charitable fund requires minimal paperwork and usually can be accomplished in less than half an hour.

Recognition and Anonymity You may receive public recognition or remain anonymous, as you wish. You may specify that a fund be named for an individual, family, group or special purpose. In this and many other ways, the Foundation helps individuals, families, organizations, corporations, and foundations achieve their community involvement goals.

Charitable Deduction Rules Many donors find it convenient to work with community foundations as well as to work through their own private foundations. Donors may be surprised at how the charitable deduction rules come into play where gifts are made to both public charities and private foundations.

For more information see:

• A Comparison Between a Charitable Fund and a Private Foundation
  
  
• Tax Advantages of a Community Foundation
  
  

• Donors with private foundations can easily transfer assets to establish a charitable fund at Dade Community Foundation. See Transferring a Private Foundation to a Community Foundation, and The Small Private Foundation.