I dealt with Public v. Private Foundations last year. Lately I’ve begun to learn about something called a “supporting organization.”

Yesterday I met with Doug Johnson, president of a relatively new community fund here in the Denver metro area that is called, simply, The Charitable Fund or TCF.

As with other community foundations, TCF offers Donor-Advised Funds (or DAFs) . . . and these supporting organizations (SO’s)–specifically Type I SO’s.

So what is a supporting organization? What, more specifically, is a Type I SO? And why should you care? Read the rest of this entry »

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I got a call this evening from someone I haven’t heard from in years. Totally out of the blue. We used to work in the same non-profit agency 17 years ago. He had been doing research on starting a family foundation and ran across our family’s foundation in a list of local entities.

“I know the Holzmanns!” he exclaimed. And called me up.

“I’m wondering if you might be able to provide some help . . . some advice . . . about starting and operating one of these foundations . . . ,” he said. He had no idea I’ve been working on StrategicInheritance.com.

I said I thought I just might be able to help. And so we spoke.

As I noted last month, I’ve been thinking of starting or sponsoring a mastermind group myself–or encouraging Generous Giving to sponsor such groups. In fact, the local Generous Giving rep has contacted me to talk about the subject. Hopefully we’ll get together soon.

But my friend’s call this evening just reinforced to me how valuable such groups could be.

Our family has owned a private (”family”) foundation for about eight years. We use it as a kind of detention pond^* for funds we want to give away.

Our attorney sent me some information today about the differences between private foundations such as the two we set up — one, a “family” foundation; the other, a “corporate” foundation (sponsored by the company we own) — and public foundations, especially foundations that offer Donor-Advised Funds (DAFs).

The following comparison chart is slightly modified from one put together by a cause-oriented foundation (COF) whose brochure our attorney gave us. Read the rest of this entry »