Who is The American Foundation?
The American Foundation is a qualified 501(c)(3) non-profit public charity. All of our Family Foundation components (such as your component Family Foundation account) qualify under our public charity tax status (the same status as a church, the Boy Scouts, a university, or a hospital, etc.). Donors qualify for the highest charitable tax deductions available – the same as mentioned under FAQ Number 6.
Using our public charity status, we help individuals, families and corporations create foundations that give financial support to their communities and/or favorite charities, causes or religious organizations. Unlike many other charitable organizations in the nation, we strive to make the entire process of philanthropy easy and rewarding by: 1) making it very simple and inexpensive to set up; 2) having a low minimum amount to fund a foundation; and 3) providing a great amount of donor direction in recommending charities that will receive grants from the foundation.
The American Foundation can be traced back to 1982 when its founder Ben L. Schaub originally established the Interstate Community Foundation. Mr. Schaub later established the Interstate Support Foundation (ISF) in 1985. Ben had a vision of creating an expanding network of foundations that would provide ever-increasing financial assistance to charitable organizations. He knew that without private capital, many important social, educational, scientific, and religious programs or entities would not survive.
Acting under these ideals, the Interstate Support Foundation experienced considerable growth since its establishment. In 1996, the Foundation received generous contributions from two principal donors who recognized and wanted to support the vision of ISF by designating large amounts of funds to promote that vision. This allowed ISF to increase its services and presence nationwide.
At this same time another foundation, simply called The American Foundation was created. The American Foundation has become our parent and primary foundation. It was created to assist in new foundation development and act as an umbrella foundation to all other affiliated foundations. The American Community Foundation and the World Foundation are sister foundations that fall under this umbrella.
The American Foundation has since facilitated the establishment of hundreds of charitable trusts and Family Foundation accounts through its Turnkey Family Foundation Program. The American Foundation provides not only administration, but also compliance with the complex IRS rules and regulations governing foundations.
We hope that you will soon join The American Foundation family and help us in our quest to promote new philanthropy that will help support the charities of the world.
We appreciate, and thank you for your interest.