As a professional advisor, your clients expect you to provide sound counsel about the management and investment of their assets, their tax situation or their estate plan. You can also help them by listening for and identifying situations when a charitable gift to the Community Foundation would be in their interest. These include:
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Some advisors are reluctant to begin a charitable giving conversation with their client, concerned about making value judgments, especially if the client has not expressed charitable intentions. In reality, identifying your client's philanthropic interests is a wonderful way to deepen the client's trust and strengthen your relationship. This is also an opportunity to develop your relationship with future heirs.
To determine your clients' motivation for and knowledge of philanthropic giving, you might start with these questions.
Here are seven questions to consider:
If you answered yes to any of these questions, your clients may benefit from knowing more about the Arizona Community Foundation. We'd be happy to help you make an introduction.
Your client has two great options for supporting their favorite charity--a donor advised fund or a designated fund. A donor advised fund gives individuals, families or businesses the opportunity to participate in grantmaking by recommending nonprofits and programs to receive grants. As with a supporting organization, a Community Foundation donor advisor can take advantage of information about local needs and opportunities--and even include his/her family or business in recommending grants. It is a simple, personal and highly effective way to give.
A designated fund provides regular, annual funding to one or more specific nonprofit organizations and can be set up to allow the organizations to build the fund over time. Each year, the earnings from the fund can be distributed to the nonprofit or retained for future use. In both instances, the Community Foundation handles all of the administration, record keeping, and financial statements for the funds.
Your client can recommend a grant to any organization that is qualified as a public charity under Section 501(c)(3) of the Internal Revenue Code, which includes most faith-based programs. The United States has more 650,000 IRS-approved charities. The Community Foundation will ensure that groups recommended for a grant meet this requirement.
In complying with federal tax laws, and for the protection of your client, the Community Foundation must reject grant recommendations that would benefit an individual, fulfill a personal obligation, support a political campaign, or a private foundation.
The Arizona Community Foundation has the ability to accept a range of assets including:
The Community Foundation's fees are highly competitive with commercial gift funds, but even more important, the Community Foundation offers your clients unique value including personal service, local knowledge of community needs and the nonprofit sector, and expertise in the philanthropic field.
Establishing a fund at the Arizona Community Foundation is considerably less expensive than starting a private foundation since we handle all administrative details, including filing annual tax returns, performing due diligence on grants, and all details associated with processing and tracking grants. There are also no setup fees.
Visit our Planned Giving Center Online or download our Guide to Planned Giving.
ACF also offers a variety of educational forums and seminars, some of which cover planned giving. Click on the Events page for a complete list.
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