An Eye Opener on Foundations

During our Snapshot group today, one of the guys mentioned that he wasn’t sure how to handle donating funds to multiple organizations during the busy end of the year. We discussed the options around Foundations and how there are non-profit foundations designed to hold funds that can later be directed to multiple non-profits (and I believe some are designated as “Christian focused foundations”) such as churches, alliance partners, and even Iron Forums. So you can deposit all the funds into the foundation at one time for a tax write off, and direct where they go later. The fee to manage the fund seems to be worth the flexibility of determining where the money should go from time-to-time, rather than having to disburse it immediately at the end of the year, or when you are looking for a tax write off as part of a sale for instance. National Christian Foundation and North Georgia Community Foundation are two examples of many we could consider as business owners. I thought this was very encouraging and is a great way to simplify donations. I also know that Iron Forums members Mike Townsend, Randy Brunson or Bob Tankesley can help answer detailed questions about this option. *I suppose I should add the disclaimer that I am NOT certified in tax planning or even foundations – but this was a new perspective that I found helpful.