Professional Advisors

PROFESSIONAL ADVISORS

How we can help

When the conversation with your clients turns to long term charitable giving, we hope that the Community Foundation is a part of that conversation.  Instead of establishing a private foundation, a fund at CFOV can provide the structure for a charitable fund quickly and efficiently.  

WHy Partner?

CFOV can add value to the relationships you have with your clients.  In many cases, a fund at a community foundation is a way to simplify charitable giving with a donor advised fund, a scholarship fund, or a donor designated fund.  We can even help you grow a relationship with the next generation of your clients by including them in the charitable plan. 

FAQs

  • What are the benefits to my clients of using the Community Foundation for the Ohio Valley as opposed to giving directly to the organization(s) they wish to support?

The Community Foundation offers your clients numerous benefits, including the maximum charitable tax benefits available. When your clients give to their chosen organizations through the Community Foundation, the Foundation handles all of the grant paperwork – administration, record keeping and financial statements. We ensure that every nonprofit organization they support is qualified as a charitable recipient and offer the opportunity to our donors to review funding proposals prescreened by our staff to help make decisions on funding these proposals. The Foundation also provides numerous opportunities for donors to pool funds, work on common interests and support local organizations. The Foundation is also equipped to accept a wide variety of assets from cash to securities, to real estate and closely-held stock.

  • What type of assets can my client use to start a fund?

The foundation offers a variety of ways for your clients to make donations to reach their philanthropic goals. Corporations and businesses are limited to gifts of cash, securities, closely-held stock, limited partnership interests and real estate. Individuals and families have even more options, including gifts of cash, securities, closely-held stock, oil & gas royalties, limited partnership interests, bequests, life insurance policy, retirement fund accounts, real estate, tangible personal property, charitable remainder trust, or a charitable lead trust.

  • What can I do to encourage my clients to be philanthropic?

Bring up the philanthropic question. Most of your clients are probably philanthropic already so helping them think through the role of philanthropy in their current financial and estate plans is a natural transition and is an important part of the overall planning process. Philanthropic individuals are interested to hear how they can continue to support their favorite causes after they have passed, though a Legacy Agreement.

  • What if my client wants to keep this private?

There is no better place. Your client may remain anonymous. We are not required to report his/her name to the public or through any reports required by the IRS.

  • Can charitable funds established at the Community Foundation for the Ohio Valley benefit areas other than the Upper Ohio Valley?

Our role is to help donors create funds that carry out their charitable goals, be that in the Upper Ohio Valley or elsewhere. Foundation donors have the ability to recommend grants to organizations within the United States.

  • What is the minimum gift required to start a fund?

The minimum amount required to start a fund at the Community Foundation for the Ohio Valley is $10,000. In the case of scholarship funds, it is difficult to make substantive awards until the fund balance reaches at least $25,000.

  • What services can you offer that will make my job easier?

The Foundation’s staff is trained to assist individuals and families think through their charitable goals. The Community Foundation provides a wide range of philanthropic services that help to make your philanthropy meaningful. We would welcome the opportunity to meet with you and your clients to help them determine how to make an impact with their philanthropic dollars. We become part of your team, helping your clients with current and future philanthropic endeavors. A simple Legacy Agreement outlining a donors wishes will put their minds at ease that their planned gift will be stewarded as they have designed.

  • What are the tax advantages?

While tax considerations vary according to assets, generally your clients may deduct up to 50% of their adjusted gross income (AGI) for cash contributions, and up to 30% of their AGI for gifts of appreciated securities. Your client’s tax situation should be viewed on an individual basis to determine the deductibility allowed for them. A fund at the Foundation is often a better alternative than a private foundation.

  • Can my clients’ families be involved?

Yes. We encourage it. Philanthropy offers an opportunity to pass on the family’s philanthropic traditions and family values. Creating a donor-advised fund with children as the successor advisors can be one of the most powerful and meaningful gifts a parent can make. The CFOV staff can work with your clients on the best ways to involve children and grandchildren in the joys of philanthropy through a fund at the Foundation.

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