• “Donor Advised Fund: is an extremely popular option for giving because donors can start and maintain them withfewer dollars (some hosts have no minimum; the average is $10,000-25,000). Donors give up some control (hence,the word “advised”) and attach their funds to a public charity and, therefore, receive greater tax advantages. Theadministrative or grantmaking support of the public charity is often an attractive advantage for donors. Community foundations host thousands of such funds, as do other public charities, financial institutions, and donor networks.” NCFP, “The Value of Family in Philanthropy
  • “A family foundation is an opportunity to work collaboratively on community or social issues of common concern. We believe that family foundations are excellent vehicles for bringing family members together to: (1) express and test shared family values, (2) make a significant difference in the community or on a selected issue; (3) strengthen and pass on a legacy of giving; (4) deepen connections to each other and the outside world through a sense of shared enterprise.The family foundation is a legal structure that requires a modest amount of legal and financial infrastructure and maintenance. Other philanthropic vehicles include donor-advised funds at community foundations or commercial institutions, charitable lead trusts, and “virtual” family funds. There are different tax rules and benefits for each of these vehicles. Your family’s legal and financial advisor will help you select the one that is best suited to your situation and goals.Your choice of philanthropic vehicle, as well as the way you involve your children in the giving process, should be consistent with your parenting and family goals. Are you simply hoping to encourage your children to be altruistic? If so, any vehicle will suffice as long as it gives the young person an opportunity to give according to their interests and passions. Do you want to establish a family legacy? If so, it might make sense to set up a family foundation in which family members work together to address focused social needs.”  Remmer, “Raising Children with Philanthropic Values“