A private foundation can be a great vehicle for charitable giving, but sometimes the process of managing the foundation’s operation can add stress to the joy of giving or become a burden. Communities Foundation of Texas (CFT) can work with you to find a solution that makes your giving simple and fulfilling.
Utilizing CFT Staff Expertise
In the growing landscape of philanthropy and nonprofit organizations, we understand that it can be difficult to find and/or assess the right charitable programs to fund. Through the Giving Guide, North Texas Giving Day, and other community grant initiatives, CFT staff have extensive knowledge of nonprofits in North Texas. We are happy to provide a curated list of funding opportunities and nonprofit needs that align with a foundation’s charitable values, stated purpose and goals. Additionally, CFT can operate a separate grant application process and provide review and vetting services, if desired. Many individuals, foundations and corporate partners rely on CFT staff knowledge and experience to find specific grant opportunities.
Beyond our philanthropic services, foundations may utilize CFT to make grant payments on behalf of the foundation. CFT staff will ensure that the nonprofit recipients meet the necessary due diligence requirements, handle all check processing needs, and can also write grant agreements to provide reporting on the use and impact of funds.
Conversion of the Private Foundation
At different times in the life of a private foundation, we understand that an individual or family may need to decide if operating the foundation is the right thing. Administrative expenses, IRS compliance regulations and changing family dynamics can all impact the joy and the success of maintaining an independent charitable organization. We have worked with many people to retire the private foundation entity in favor of opening a donor-advised fund because the fund allows them to maintain the same name, identity and charitable goals as the current foundation without the administrative burden. Multiple generations can be part of the granting process, like with a board, ensuring that family values of philanthropy get passed down. Charitable giving, without the burden of administration, can be a welcome option at some point in the life of the foundation, and we are happy to explore all options with you or your client.
I would be happy to talk about the ways in which CFT can assist with the administration of your private foundation! Feel free to reach out to me at 214-750-4146 or firstname.lastname@example.org.