No matter what your charitable passion may be, we help maximize the impact of your giving today and into the future.
The Community Foundation of Sarasota County can provide administrative assistance to donors who have established and wish to maintain private foundations. We work closely with the trustees of private foundations to customize services that meet their needs through a contractual arrangement that is negotiated according to the level of services requested.
One of the easiest ways to start is by establishing a donor advised fund in the name of the private foundation. The Community Foundation's status as a public charity means that grants made to it by the private foundation constitute qualifying distributions which fulfills the private foundation's expenditure responsibility.
A donor advised fund also allows continued involvement in the distribution of grants from the named fund. The trustees of the private foundation reserve the right to make specific recommendations regarding the charitable distribution from the fund's investment income as well as principal. The private foundation will receive recognition for grants disbursed from the fund or, if the trustees prefer, can remain anonymous.
Private Foundation services can include:
- Grant review
- Administration and management
- Record keeping to maintain compliance with state and federal tax laws
- Accounting and other related services including preparation of annual tax returns.