Private Foundation Services
Private Foundations work with Communities Foundation of Texas in 3 key ways:
Option 1: Convert to a fund
Convert the foundation into a named advised fund
Rollover your private foundation into a named donor-advised fund, and let our experienced staff help you achieve your charitable goals. Your donor-advised fund can maintain the same name, identity and charitable goals as your foundation. Continue your charitable giving without the burdensome administrative costs, IRS requirements, compliance regulations and excise tax payments associated with a private foundation. We can facilitate all the necessary legal and administrative steps for you. Read a CFT newsletter article about converting to a fund. Contact Angela Woodson to get started (214) 750-4145.
Option 2: Payout to a fund
Donate the foundation's annual 5% required payout to a donor-advised fund here
If you have trouble meeting your private foundation's annual 5% payout requirement, the community foundation can assist by accepting contributions from this payout. Because the private foundation's contribution to us is a "qualifying distribution," it counts toward the 5% payout. If you donate all or part of your 5% payout to a donor-advised fund, we can help you distribute the money. Or, you can donate it to our Community Impact Fund and the money will be distributed through our grantmaking strategies. Contact Angela Woodson to get started (214) 750-4145.
Option 3: CFT Services
Take advantage of our new Customized Philanthropy Services program
Private foundations can take advantage of our Customized Philanthropy Services. We offer guidance on the art and science of giving effectively and provide full-service support for your administrative needs. Our professional, dedicated staff can help you accomplish your giving goals - from due diligence on a local nonprofit to executing a grant agreement. Contact Angela Woodson to get started (214) 750-4145.
Mrs. D: The unceasing activist
“My mother was a tireless champion of education and community improvement. She has always been an inspiration for me and now for my four daughters as well,” says Michelle Hall.
Read how Michelle and her husband, Houston, converted their private foundation into a donor-advised fund and make grants to honor Michelle’s mother.
Advisor Relations Officer
Geri Jacobs, ChFC, CLU
Director of Charitable Gift Planning
Contact me if you have any questions.