Starting a Corporate Fund
Establishing a corporate fund can allow companies to simplify and focus the giving process. Corporate staff is freed from the administrative details of charitable giving and can choose their level of involvement in grant-making. The foundation staff provides technical assistance and grant-making services at a low cost. We also handle all the paperwork, grant payment and investment oversight. This allows you to expand your company’s corporate giving programs without increasing corporate staff. In addition, the charitable works of the corporation receive public visibility through the foundation’s many publications.
A corporate fund provides a dependable stream of income to meet the company’s charitable obligations, even during years when cash flow is tight. In good times, the company can add to the fund, providing additional flexibility to even out the peaks and valleys inherent in most businesses.
We also offer solid knowledge of the Ross County area, particularly in terms of the major issues affecting the nonprofit sector.
The foundation can assist the owners of small businesses who wish to give back to the community in which they’ve built their company. With careful planning, the opportunities available as our philanthropic partner can offer you maximum tax benefits.
- Gift a portion of the stock of your corporation.
- Contribute a portion of the stock prior to the sale of your business.
- Use the small business to provide a life income for yourself or someone else with a charitable remainder unitrust.
- Benefit from estate planning for your children to inherit the family business.
Stocks can be given to the foundation, valued and then sold back to the corporation or an individual. The gift is unconditional – there can be no advance understanding that the foundation will sell the stock to a particular individual.
In addition, careful timing and structuring are essential to the successful outcome of the sale of stock of a closely held business or the sale of the business itself. As in all instances, contact your legal and financial advisor.