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May 1, 2009 12:00 PM
What Form Should Your Private Foundation Take?
A quick guide to choosing between two possible entities: non-profit corporation and charitable trust
Philanthropically minded clients often create private foundations to structure their giving because foundations provide significant advantages: They give donors considerable control over investment and distribution decisions; they also allow donors flexibility in fulfilling their charitable intentions. Moreover, this control and flexibility can be passed to the next generation or other individuals to preserve a family's legacy.
When establishing a private foundation, donors are faced with a choice: which of two types of legal entities should they select: a trust foundation or a corporate foundation (also known as a non-profit corporation)? Most advisors favor one form over the other, and more often than not the corporate form is chosen. The reasoning varies, but often liability or governance concerns rank high in the decision. That choice deserves a second look. In most situations, the trust form is as effective as, and in some cases it's actually superior to, the corporate form.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
E-Newsletter Signup
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