Private Foundation Services
Mackensen & Company is now offering private foundation services for accounts as low as $100,000. The capability to set up private foundations with as little as $100,000 facilitates teaching children about philanthropy at an early age. The low account minimum promotes the early establishment of a private foundation that can grow significantly over the years on a tax-free basis.
Generosity is its own reward, however some charitable giving to private foundations may also provide personal tax benefits... Contributions to a private foundation provide attractive tax benefits to the donor. Tax deductions that are not immediately used on the first year’s tax return may be carried forward for up to five years.
Private foundations require that at least 5% of their value be distributed annually to public charities. If desired, children of donors may serve on the foundation board and help select the charities to which the donations will be made. Family meetings may be held to facilitate these philanthropic decisions, promoting family unity and charitable works.
Private foundation accounts are held at National Advisors Trust Company, FSB. National Advisors Trust provides cost effective administrative and custodial services for private foundations on an exclusive basis.
If you would like some more information about setting up a private foundation, please do not hesitate to contact us.
Email your questions to info@mackensen.com