The Family Foundation Advantage™ can bedefined as the creation of a charitable “endowment like” account within The American Foundation. The Donor or his/her family retains the ongoing right to direct the annual income, as grants, to the charity they choose. This format provides for a charitable account that operates similarly to a private foundation while receiving the greater tax benefits associated with donations to a public charity.
The Tax Advantage. This new and improved format provides greater tax benefits than a private foundation. Our public charity status (which all new component Family Foundations qualify for) gives the maximum available charitable tax deductions (better than private foundations).
The Charitable Legacy Advantage. In addition, when a Family Foundation is established with The American Foundation, principal is preserved so the Family Foundation will continue to operate indefinitely. This allows the Family Foundation benefits to be passed to future generations so the name and the wishes of the original donor will be carried forward and continued in perpetuity.
The Paperwork Advantage. The American Foundation does all the administration for each individual Family Foundation. This includes all accounting and tax reporting, making annual grants to qualified charities, overseeing, delegating, or implementing the investments, and maintaining compliance with IRS policies.
The Cost Advantage. There is no cost to establish a Family Foundation with The American Foundation. By doing this we hope to encourage anyone that wants to, to become a philanthropist, or take advantage of our Turnkey Family Foundation Program and Family Foundation planning.