Private Foundations

One of the most effective mechanisms for a charitable giving program is the establishment of a private foundation.

The benefits of creating a foundation are manifold. They offer numerous financial and tax advantages, both for donors and donees. But just as important, foundations offer a way for families to strengthen their ties with their local school or religious institution.

Foundations can also help individuals and families play an active, ongoing role in the life of a favorite charity or institution. Foundations help define charitable goals by embodying them in a philanthropic vision and creating the institution to carry them out.

In recent years, private foundations have evolved in a number of different directions, becoming both more effective and more complex. An important development is the so-called Charitable Service Organization (CSO). A CSO offers advantages similar to a private foundation, with some loss of flexibility and control, but with the possibility of a larger upfront deduction and more favorable tax treatment.

Setting up a private foundation can be both a rewarding experience and an important step in a person's or family's life. At EPIC, we have the experience and the expertise to help you through the process from start to finish. Contact us for a private consultation.