Do good, greater.
Converting a Private Foundation to a Philanthropic Fund
If you would rather focus more of your energy on giving to the community and less on the administrative work of running your private foundation, consider converting to a philanthropic fund. Converting to one of several fund types at the Hawai‘i Community Foundation is a simple, streamlined process that involves the transfer of assets to HCF.
By converting your private foundation
A donor-advised fund at HCF is a simple and flexible option that enables donors to keep their foundation’s identity and recommend grants to charities of their choice. Similarly, a signature fund at HCF offers as much hands-on involvement as desired; it can be managed much like a foundation with a committee of advisors making grant recommendations. Whatever type of fund you choose, the Hawai‘i Community Foundation will handle all of the administration, reporting, and filing required.
into a philanthropic fund at the Hawai‘i Community Foundation (HCF), you can avoid the administrative, compliance, and tax burdens of maintaining the private foundation, and still fulfill your foundation’s charitable purpose.
A philanthropic fund offers several benefits:
It is SIMPLE to set up
There may be significant TAX ADVANTAGES
The names of donors and grants can be kept CONFIDENTIAL
There is NO MINIMUM distribution requirement