It’s relatively straightforward to see how philanthropy figures into the financial and estate plans you build for individuals and families. We work with professional advisors every single day to help meet clients’ needs.
It’s worth considering that several of your clients hold executive positions in companies whose leadership actively encourages corporate philanthropy. That’s why it’s wise to be aware of best practices in corporate philanthropy and know the ways we can help.
Establishing a business Donor Advised Fund (DAF)—essentially functioning and named as a corporate foundation—helps corporate executives organize the company’s giving in a convenient, 501(c)(3)-qualified structure, avoiding the time and expense that would be required for the company to establish and maintain a separate foundation entity. The company can fund its DAF each year, and invite employees and other supporters to do the same, thereby organizing charitable donations to a wide range of nonprofits through a single source of funds.
Companies can collaborate with the Foundation to support employees in setting up their own DAFs, fostering greater community engagement among staff, which benefits everyone involved.
We can take on a back-office role for a company’s matching gifts program, grant administration, and giving strategy. For example, the Foundation can help a company create and implement a strategy for responding to and evaluating funding requests to align with the company’s goals for supporting and prioritizing causes. We can can also help establish and administer employee giving and disaster relief campaigns. Our tools to receive and process donations can help a company and its employees respond quickly and meaningfully to disasters and other urgent community needs.
Many companies value our infrastructure, reporting practices, and compliance protocols, which ensure adherence to tax laws and IRS requirements. By entrusting these responsibilities to the Foundation, businesses make a strategic outsourcing decision, recognizing it as a smart move.
Our team is excited to partner with you and your clients, whose businesses are eager to give back to the community where they’ve built strong relationships with employees and customers.