Tomorrow’s Philanthropic Family

How can you be a philanthropic family that makes an impact both today and tomorrow? If you guessed starting the ever-popular, flexible and tax-effective donor advised fund you would be right.

Family donor advised funds are on the rise at community foundations. “We’re inviting our donors to consider donor advised funds as a way to engage their family members in philanthropic values.”  noted Dana Bensinger, Executive Director of OCCF “We assist with fund management, including all the filings and reporting and connect you with the needs in the community to simplify your grantmaking”.  During the usual “gift giving” celebrations like birthdays, anniversaries  and Christmas a donation into the fund honors a family member and has lasting impact.

What’s more, the donor advised fund is a gift that keeps giving. “Many families consider regular communication to be a key on the philanthropy experience. To bring the family together, either around the table or online, to make decisions on what grant request they should fund is an opportunity to listen to each others viewpoints” stated Dana.”Our Skerratt Family Fund allows us to give back to a community that has given so much to us. We gather for an annual family meeting to discuss and decide how we want to build and grant our funds each year.” noted Gail Skerratt.

Families are becoming increasing reliant on donor advised fund dialogue to share stories about the joy of giving based on personal experience. Some families even share a list of favorite charities that have meant the most to the family over the years. “Telling stories and sharing experiences is itself a gift” added Dana. “because what our donor’s families want more than anything is positive communication among family members, especially as children grow up, graduate and move away”. Communication across the generation is even richer when it’s focused on a topic like philanthropy. “We started the Mary Kay Smith Sklarczyk (MKSS) Fund for our mom who passed away from breast cancer a few years ago.  Seeing how our donor advised fund has helped the community gives our family much happiness.  Helping the fund grow has become a family tradition and allows us (my brother, sister and myself) to share memories of our mom with our children.” said Stacy Paul.

This holiday season consider becoming a philanthropic family and start a donor advised fund that will impact not only your family but your charitable wishes today and tomorrow.  Is a donor advised fund right for you and your family?  Here are a few benefits to consider

  • Leave a legacy
  • Immediate income tax deduction
  • Organize your philanthropy
  • Pass on your personal charitable assets
  • Avoid capital gains
  • Build an endowemtent
  • Recommend anonymous grants

The OCCF is grateful for the opportunity to help  donors make their philanthropy personal, meaningful and fulfilling.  To learn more about starting a donor advised fund click here.