We have answers! We welcome the opportunity to meet with you in person or discuss your options via email or phone.
Director of Giving Strategies
The St. Louis Community Foundation is a great resource for your client’s private foundation.
We are a flexible charitable institution with current assets of over $303 million and 500 philanthropic funds under management. We specialize in working with individuals and families to achieve their philanthropic goals.
A private foundation can be a great vehicle for charitable giving, but sometimes the process of managing the foundation’s affairs can diminish the joy of giving or become a burden to maintain.
Has your or your client’s private foundation been affected by any of these factors?
- The original purpose no longer applies or the philanthropic mission needs to be updated to meet changing community needs.
- Operational and investment management costs are rising.
- Keeping up with new and changing government regulations requires too much time.
- It is difficult to meet the annual 5% payout requirement.
- The family prefers to focus on philanthropy, rather than on investments and administration.
In any of these scenarios, the Community Foundation may be the best alternative.
We offer several options:
Option 1: Donate the annual 5% payout into an advised fund at the Community Foundation
- Does the private foundation have trouble meeting their annual 5% payout requirement? If so, we can assist by accepting contributions from the private foundation. Because the contribution to the Community Foundation is a “qualifying distribution,” it counts toward the 5% payout requirement.
- The private foundation makes one grant of the 5% payout to the advised fund and we then disburse grants to qualified agencies based on your client’s recommendations.
Option 2: Convert the foundation into a named advised fund
- A private foundation can be rolled over into a named advised fund or supporting organization, and our experienced staff can help achieve their charitable goals. Their new named advised fund can maintain the same name, identity, and charitable goals. The donors can continue their charitable giving without the burdensome administrative costs, IRS requirements, compliance regulations, and excise tax payments associated with a private foundation.
Option 3: Take advantage of our new Charitable Family Office
- Private foundations, corporations, individual philanthropists, and nonprofits can take advantage of our Charitable Family Office. We offer guidance on the art and science of giving effectively and provide full-service support for your administrative needs. Our professional, dedicated staff can help you accomplish your giving goals— from due diligence on an international nonprofit to managing your foundation’s investments.
- Donors can choose from our menu of services, which includes grantmaking, finance, accounting, back-office support, and investment management services.
St. Louis Community Foundation
#2 Oak Knoll Park, St. Louis, MO 63105
tel 314-588-8200, fax 314-588-8088