If you’re thinking about establishing a private foundation, contact us first. A Family Fund at the JCFC can fulfill your philanthropic vision in a way that best meets your financial and tax planning needs. The cost of maintaining a Family Fund through The Foundation is significantly less than that of a private foundation, leaving more of your hard-earned assets for charitable giving.
Affordable alternative to a private family foundation.
Create an Endowment Fund or a Donor Advised Flow-Through Fund for yourself or your family and carry out your charitable giving simply and cost effectively, without the limitations, expenses and administrative responsibilities associated with a private foundation. There are no set-up fees at the Jewish Community Foundation of Calgary; administrative expenses are minimized by economies of scale.
Your family can be directly involved in the allocations process. The JCFC administers the fund and confirms transactions with regular updates on its status. Every year your family can make recommendations on distributions from your fund’s income. Grants may be directed to support any number of causes-in the Jewish community and the community at large.
Immediate current-year tax deduction
Up to 50% of adjusted gross income (AGI) for cash gifts (compared to 30% of AGI for a private foundation).
Avoid capital gains tax
Appreciated gifts of stock are deductible at 100% of fair market value (compared to more limited deductions, in certain circumstances, for a private foundation).
Reduced Administrative Burden
Grants administration and oversight
The Foundation handles all administrative responsibilities for your Family Fund, freeing you to focus on the joys of giving. Our ongoing administrative support includes the preparation of governance documents, annual tax filings and financial reports. We also verify the nonprofit status of recipient organizations, manage grant distribution and associated paperwork, and we can facilitate your Family Fund board meetings.
The board of your Family Fund, with your input and direction, identifies specific nonprofit organizations or worthwhile projects within a field of interest and recommends grants to support them. Grants may be directed to support any number of causes-in the Jewish community and the community at large-and you may adjust your funding priorities as your charitable interests evolve over time.
Intergenerational family participation
We can offer strategies and support for the philanthropic training of your children and grandchildren. By involving the next generation in grant-making recommendations-informally or as members of the Advisor Committee, your Family Fund can help ensure that your philanthropic values are passed down through generations. A fund at the JCFC will involve future generations of your family in giving through a Jewish lens, encouraging a tradition of tzedekah and tikuun olam.