Client Scenarios

What sort of client scenarios might present a situation where the Community Foundation could be the right option? Here are a few examples.

Your clients want to "give back" to the community, but are undecided about which organizations to give to. Establishing a Donor Advised fund at the Community Foundation would give your clients a tax deduction for the current year, while allowing them ample time to reflect on the organizations to which they would subsequently like to direct grants.

Your client has appreciated stock and is concerned about capital gains. Appreciated stock can be used to establish or contribute to any of the types of funds that the Community Foundation offers.

Reducing capital gains is important, but lifetime income is also a concern. If the stock or other appreciated asset has considerable value and, in addition, lifetime income is a concern, your client could use the asset to fund a charitable remainder trust (CRT.) Then, at his death, the remainder in the trust would benefit the charities of his choice.

Your client wishes to write a will but is unsure where/how to leave her estate. Especially if the client has no children, the decisions made when writing a will can be challenging.  If your client has one or several charitable organizations or concerns in which she is involved, she might be interested in a charitable fund at the Foundation as a way of perpetuating those interests and leaving a legacy to the community.

Your client wants his gift to benefit a particular local organization or group of organizations in perpetuity, but is concerned that future leadership at the organizations might not use the gift as he intends. By setting up a Designated fund at the Community Foundation, your client can ensure that the local organizations of his choice will receive periodic grants from the fund that are restricted for the purpose he intends, even after his death.

Your firm administers a trust or foundation, the trustees or board members are no longer able or interested in staying on and there are no candidates available to take their place. The Community Foundation currently holds several funds that were established by foundations that chose to cease operations but wanted to preserve their founders' philanthropic legacy, and so opened a named Designated fund prior to dissolution. Other scenarios involve family foundations where subsequent generations have moved the foundation's headquarters and they wished to leave an active grantmaking fund in the original region as a tribute to their founders.

These are among the many ways in which we can partner with you to fulfill the needs and wishes of your client. The first step is giving us a call so we can begin the conversation about what your client hopes to accomplish for the community. Executive Director Diane Brown will be glad to schedule a conversation at your convenience. Feel free to call us at (607) 772-6773.

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