Pozzuolo Rodden, P.C., Counselors at Law Releases the article "Private Foundations for a Charitably-Minded Client" which discusses the benefits of a Private Foundation

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A Private Foundation is a type of charitable organization where a principal fund is managed by either a board of directors or trustees. A Private Foundation offers its creator numerous benefits, including, but not limited to, control over charitable donations, tax advantages, flexibility and opportunities for the creator’s family to gain valuable experience and promote charity.

The Law Firm of Pozzuolo Rodden P.C., announces the release of the article "Private Foundations for a Charitably-Minded Client". Below is a sample of the first couple of paragraphs. If you would like to read more, please read the full article at http://www.pozzuolo.com/Pubs_Newsletters.shtml

Private Foundations for a Charitably-Minded Client

Clients who want to control and direct their gift giving to family and friends may establish trusts to do so. In a similar manner, clients who want to direct their charitable gift giving should consider establishing a Private Foundation. Private Foundations have been gaining popularity as a device for charitable gift giving and can be established during a client’s lifetime, or they can be testamentary and incorporated into or as part of a client’s estate planning documents.

A private foundation is a nonprofit organization established either as a corporation or a trust, with a principal fund that is managed by a board of directors or trustees, respectively. Private Foundations are recognized as charitable organizations by the IRS. Certain procedures and formalities must be met to qualify as a charitable organization and receive the beneficial income, gift and estate tax treatment that flows from being a qualifying charitable organization.

A Private Foundation offers clients many benefits, including the following:

    A)    Control

    Through a Private Foundation, a client may achieve the following:

  •     targeted giving supporting particular charitable works
  •     timing in which the funds are used
  •     control of the manner in which the funds are used
  •     control over how assets are invested
  •     perpetuating your name or the memory of a parent or child in connection with     charitable works.
  •     control over who sits on the Board of Directors or who is Trustee
  •     teach your children philanthropy and money management if they are part of the foundation’s board.

    By creating a Private Foundation, the client essentially creates his own personal charity.
    B)    Tax Advantages ........
If you would like to read more, please read the full article "Private Foundations for a Charitably-Minded Client" at http://www.pozzuolo.com/Pubs_Newsletters.shtml

Pozzuolo Rodden, P.C. provides specialized cost-effective legal services to privately held business owners and high-net-worth clients in Pennsylvania and New Jersey in excess of 35 years.

Practice Areas:

Business planning and transaction, complex business litigation, commercial real estate and development, construction law and litigation, advanced estate planning and administration, tax and pension law, high profile and intricate family litigation, and employment law and litigation.

Pozzuolo Rodden, P.C.
Counselors at Law
2033 Walnut Street
Philadelphia, PA 19103

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Joseph R. Pozzuolo, J.D., B.B.A.
Pozzulo Rodden, PC
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