C reatin g Your P ersonal F und You can maximize your giving through a charitable fund that supports your personal passions today, tomorrow, and long into the future. •M ake tax-deductible contributions when you need them and support all your giving goals. •E njoy flexibility to support your favorite charities whenever you want. •O rganize your giving and easily plan every step, from the assets you donate to the charities you support. •R ely on local experts to provide you with personalized, professional service. The Community Foundation accepts a wide variety of assets, including: •C ash • Closely-held securities • Life insurance •R etirement plan assets • Certain non-liquid assets • Real estate
•P ublicly-traded securities •T angible personal property
Because the Community Foundation is a public charity, you receive the maximum tax benefit allowable.
Compare the O ptions
CFL Fund
Outright Gift to Single Charity Private Foundation
PHILAN THROPIC SER VI C ES AN D O PTI O N S Grantmaking strategy assistance and information on community issues
CFL provides
No
Responsibility of PF
Confidentiality
Donor protected from public/charity disclosure
No – may generate additional fundraising solicitations
No – may generate additional fundraising solicitations
Donor control of grant distributions
Recommendation for approval by CFL Board of Directors +
May place restrictions on of gift of charity prior to making contribution
Direction by PF Board of Directors
Set up time
A few days
Immediate
6-9 months
Start-up costs
None None
Varies; may include legal and accounting fees
Initial gift minimum
$100*
None
$5-10 million **
Minimum annual payout (5% req.)
No
No
Yes
Separate tax return and record keeping
No
No
Yes
Excise tax on investments
No
No
Yes – up to 2%
Governance & Oversight
CFL Board of Directors
Charity Board of Directors
Independent Board of Directors
Investment Decisions
Advice; CFL Board Charity Board of Directors makes final decisions
ADMIN ISTRATIO N
Directed by PF Board of Directors
IN COME TAX D ED UC TI O N L I M I TATI O N S ( % O F A D J U S T E D G RO S S I N CO M E ) Cash Gift
50%
50%
30%
Appreciated Property – publicly traded (long-term)
30% - Fair Market Value
30% - Fair Market Value
20% - Fair Market Value
Appreciated property – closely held
30% - FMV
30% - FMV
20% - cost basis
+ Endowed Funds (Non-endowed Funds are donor directed) * Non-endowed Funds (New endowment minimum is generally $25,000) ** Source: Council on Foundations
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Contact a member of our Development & Stewardship team at 502.585.4649 or giving@cflouisville.org to start planning your personalized philanthropic fund.