An important part of our mission is to help families with their philanthropy. The Foundation offers experienced assistance in estate planning, nonprofit organizations, charitable trusts and business and non-cash gifts. The foundation offers Donor Advised Funds and support services for private foundations, supporting organizations, charitable trusts and family offices.
The Foundation offers a variety of resources related to Family Philanthropy, below is the latest article from Bill Moritz, Executive Director of the Foundaiton. The article gives fives areas of consideration before you sell your business or property. Before You Sell Your Business or Property, Consider These Things
DONOR ADVISED FUNDS:
A Donor Advised Fund (DAF) is a charitable giving vehicle wherein an individual, family or corporation makes an irrevocable, tax-deductible contribution of personal assets to a charity and at any time thereafter can recommend grant distributions to qualified charitable organizations. A DAF is a great way to help individuals, families, and corporations achieve their desire to take their “vision to the world” for a charitable impact. A DAF offers the opportunity to create a low cost, convenient, efficient method of charitable giving while maximizing tax advantages. Contributions made to a DAF not only aid current tax planning, but provide the opportunity for additional funding from the estate by a will bequest, charitable trust, gift annuity, or insurance policy to ensure your vision for charitable impact is taken to the world for years to come!
In establishing a DAF at New Horizons Foundation Inc, you will receive personalized service from a staff with over 25 years experience who will help to ensure your charitable vision is achieved. Our website allows you to have secure on-line access to your project from anywhere in the world to monitor grants, contributions, and if applicable, investment account activity. The Foundation takes care of all the paperwork, tax reporting, IRS filing and investments and Donors get to concentrate on supporting important charities.
By establishing a Master Operating Project under The New Horizons Foundation, a private foundation can have access to all of the programs that are available to project managers under The New Horizons Foundation. The private foundation administrators function as the project managers for the project and they would have the ability to request distributions and establish different types of projects for their foundation and its members and would have access to the bookkeeping records for the master project from The New Horizons Foundation website.
Supporting Organizations to The New Horizons Foundation must be approved in advance by the Foundation’s Board of Directors. Supporting Organizations may be in the form of a corporation or a trust. They can be structured as a Type 1 Supporting Organization in the form of a charitable trust, which is controlled by The New Horizons Foundation serving as Trustee or as a Type 3 Supporting Organization that is operated “in connection with” The New Horizons Foundation and is “functionally integrated” with the Foundation.
The foundation helps individuals establish and operate charitable remainder trusts, charitable lead trusts and IRS Section 4947 charitable trusts. A charitable trust in association with a Donor Advised Fund in the Foundation can provide many advantages to the family for current and future tax planning.
Many individuals plan to make significant charitable gifts at a later date after the expiration of a trust or at their death. By establishing a Legacy Project, an individual can name The New Horizons Foundation as the charitable beneficiary of the trust or their estate with instructions on how the funds should be distributed and know that his or her wishes will be carried out. The donor can even name family members to serve as managers of the project to make distributions on their behalf. This type of project can insure that organizations which have come to rely on a donor's regular support will not be disadvantaged by his or her death.