I described the technical differences between donor-advised funds (DAFs) and private foundations back in June of 2007. Frankly, at the time, I saw no compelling reason seriously to consider creating a DAF.
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 »
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 »