Donor-Advised
Doctor Jim and his wife Ann (not their real names) had always been interested in taking care of animals. They had dogs most of their married life. They believed strongly that agencies that care for lost or abandoned pets should not euthenize their pets. Although the couple had no children, they had become strong advocates for children's issues, particularly issues emphasizing child abuse. Dr. Jim had a particularly successful investment year, and his CPA and tax attorney both told him he needed to make major charitable donations to avoid major taxes. While the couple had planned to leave some money in their estate, they hadn't planned significant donations to their favorite causes now, when they're in their 50s. Their CPA recommended they establish a Donor Advised Fund with the Community Foundation. They started a fund with $250,000. Working closely with Foundation staff, they began a decade of assistance to animal and childrens' causes. Dr. Jim died unexpectedly, and Ann has carried on his legacy. She reviews her fund twice yearly with Foundation staff and makes semi-annual contributions from her Donor Advised Fund. More than a dozen charities, from no-kill shelters to childrens' agencies, have been helped. Ann plans to add more to the Fund in her estate plans, providing endowed help for decades to come.