Private vs. Family Foundations

The Pinellas Community Foundation is a time and cost saving alternative to a private or family foundation. The Foundation assumes all of the administrative and reporting requirements and helps the donor to avoid or decrease all the extensive legal costs and paper work. This type of fund can be created in a day versus several months.

A fund with the Foundation offers many advantages, along with greater charitable tax benefits. For example, gifts of cash or ordinary property to the Foundation are deductible up to 50% of adjusted gross income (AGI). Gifts to private or family foundations are deductible only to 30% of AGI. Similarly, gifts of appreciated property to community foundations can be credited for 30% compared to 20% for a private foundation. There are no excise taxes on community foundations as there are on private foundations and community foundations do not have a requirement that a certain percentage must be distributed each year.

To learn more, contact the Pinellas Community Foundation at (727) 734-2609.

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• Part 1: Charitable Planning: How does a fund established at a community foundation compare to private foundations? Pt. 1
• Part 2: Charitable Planning: How does a fund established at a community foundation compare to private foundations? Pt. 2

Setting up Donor Funds for Charities

How do you set up a fund, and is there a cost?

There is no cost to set up a fund at the Pinellas Community Foundation. The first step is determining what you would like to accomplish. To do this, it may be helpful to learn more about some of our existing funds. The Foundation also has a number of different types of funds to accommodate donors who prefer the long-term strategy of endowments or those who want to give more actively each year. Donors may choose to establish one of these funds, which allow donors to recommend grants, or donors may choose to contribute to an existing fund that is focused on the needs in Pinellas County.

The Pinellas Community Foundation makes grants to nonprofit organizations working in areas of human services, community betterment and arts and culture. We offer a variety of options for making donations. By combining your resources with those of others that share your interests, you can maximize the impact of your contribution. Gifts of any size make a difference and are always appreciated.

To learn more, contact the Pinellas Community Foundation at (727) 734-2609.

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