Are you interested in making a positive difference in the lives of others while receiving a tax break?  Maybe you have considered starting your own foundation, but you thought it took millions to start a foundation.  There are other options.  We did it and so can you.

We feel it is vitally important to reach out to those in need and to be the change we wish to see in the world.  Therefore, we decided to start a foundation.  While it takes significant time and money to start a traditional foundation, there are numerous options out there to start your own charitable fund for as little as $5,000 to $25,000.  Donor Advised Funds through mutual fund companies, a community foundation or other foundations that support smaller foundations offer options. Some include:
The Fidelity Charitable Gift Fund: http://www.charitablegift.org
The Vanguard Charitable Endowment Program: http://www.vanguardcharitable.org
Community Foundations, such as The Community Foundation of Greater Atlanta: http://www.atlcf.org
The American Foundation for Charitable Giving: www.americanfoundation.org

We love our set-up as it allows tax deductible contributions to be made and the funds are invested earning more than 10% a year.  1% goes toward management and we are required to distribute 5%, so each year we are able to give funds away and still watch the endowment grow for future giving.

We don’t solicit donations to our foundation, but rather fund the endowment with proceeds from our business operations.  Feel free to start your own charitable fund, or if you don’t want to choose charities for the annual disbursements, feel free to donate to another that will distribute the funds for you.  If you’d like to see more about our foundation, visit www.LightTheFuture.org

Filed under: Giving Back, Save Tax