Managing Foundations and Charitable Trusts Essential Knowledge, Tools, and Techniques for Donors and Advisors
by Silk, Roger D.; Lintott, James W.Edition: 2nd
Format: Hardcover
Pub. Date: 2011-08-09
Publisher(s): Bloomberg Press
Other versions by this Author
-
This Item Qualifies for Free Shipping!*
*Excludes marketplace orders.
List Price: $63.00
Buy New
Arriving Soon. Will ship when available.
$60.00
Rent Book
Select for Price
Used Book
We're Sorry
Sold Out
eBook
We're Sorry
Not Available
How Marketplace Works:
- This item is offered by an independent seller and not shipped from our warehouse
- Item details like edition and cover design may differ from our description; see seller's comments before ordering.
- Sellers much confirm and ship within two business days; otherwise, the order will be cancelled and refunded.
- Marketplace purchases cannot be returned to eCampus.com. Contact the seller directly for inquiries; if no response within two days, contact customer service.
- Additional shipping costs apply to Marketplace purchases. Review shipping costs at checkout.
Summary
Establishing a private foundation is not only of benefit to tax and estate planning, but is a powerful way to help your community and build a permanent legacy. Managing Foundations and Charitable Trusts is an essential guide to setting up a private foundation, whether you are looking to establish one or provide financial advice to those who are. Already nearly five percent of high-net-worth individuals have private foundations, and interest in setting up charitable organizations is on the rise. This new edition looks at the latest issues such as: Avoiding and detecting fraud The growth of donor advised funds Charitable planning in the face of tax rate uncertainty What to do when private foundations get too small This straightforward and authoritative guide explains the reasons for establishing a foundation, the steps for setting one up, and tips for avoiding common pitfalls. Author Roger Silk and his firm are well known in the adviser community for providing professional management to foundations, and he covers the ins and outs of private foundations from the perspective of both philanthropists and the advisers who work with them.
Author Biography
Roger D. Silk, CEO of Sterling Foundation Management, is widely recognized as a leading expert in the field of private foundations and charitable trusts. As a founder and board member of several nonprofit organizations, former bond trader at the World Bank, and Stanford-trained PhD economist, Dr. Silk possesses a unique blend of experience, practical knowledge, and theoretical insight that has enabled him to help build Sterling Foundation Management into the market leader that it is today.
James W. Lintott is Chairman of Sterling Foundation Management and a board member of Dean and Deluca and several private investment companies. He has over two decades of experience working with wealthy individuals and families. In addition, Mr. Lintott serves on the boards of a number of nationally recognized charities, including the Freer/Sackler Galleries of the Smithsonian Institution, the U.S.-Japan Foundation, and Best Buddies International.
Table of Contents
| Preface | p. xiii |
| Acknowledgments | p. xvii |
| The Basics of Charitable Giving | p. 1 |
| Direct Gifts | p. 2 |
| Supporting Organizations | p. 6 |
| Donor-Advised Funds | p. 8 |
| Private Foundations | p. 12 |
| Conclusion | p. 18 |
| Tax Incentives and Limitations | p. 21 |
| Four Powerful Tax Incentives | p. 21 |
| Details on Tax Deduction Limits | p. 25 |
| Finding the Best Giving Strategy | p. 27 |
| The $1.6 Trillion Loss | p. 28 |
| Estate Taxes | p. 29 |
| Conclusion | p. 30 |
| Charitable Planning and Taxes | p. 33 |
| Giving Approach | p. 34 |
| Tax Planning Complexity | p. 37 |
| Guidelines for Analytical Expenditure: Or Is Analysis Worth It? | p. 39 |
| What to Do When Tax Rates Are Uncertain | p. 40 |
| Timing of Gain Realization | p. 41 |
| Charitable Remainder Trusts and Deferral | p. 42 |
| Conclusion | p. 42 |
| Planning with Charitable Lead Trusts and Charitable Remainder Trusts | p. 43 |
| Charitable Lead Trusts | p. 43 |
| Charitable Remainder Trusts | p. 47 |
| Flexibility and Irrevocability | p. 52 |
| Foundations and Children | p. 53 |
| Affluenza | p. 54 |
| Bringing Families Closer | p. 56 |
| Transmitting Values | p. 56 |
| Providing Valuable Skills | p. 56 |
| Conclusion | p. 59 |
| Benefits of Giving While You're Still Alive | p. 61 |
| Personal Satisfaction | p. 61 |
| Create a Legacy | p. 62 |
| The Problem with Waiting | p. 63 |
| From the Grave: Control-But Not Too Much | p. 64 |
| What about Too Little Direction? | p. 66 |
| Who Gets Control? | p. 68 |
| Conclusion | p. 69 |
| Effective Foundations: The Business of Philanthropy | p. 71 |
| The Mission Revisited | p. 71 |
| Getting Started | p. 74 |
| Know Your Charities | p. 75 |
| Governing for Effectiveness | p. 77 |
| Approaches to Grant Making | p. 81 |
| You Get What You Negotiate | p. 82 |
| Stand on the Shoulders of Others | p. 83 |
| Outside Experts Can Make the Difference | p. 84 |
| Types of Support: Periodic versus Endowment General versus Program | p. 84 |
| Is Measurement Worthwhile? | p. 86 |
| Establishing Measures | p. 90 |
| Provide Feedback | p. 91 |
| Give Wisdom in Addition to Wealth | p. 91 |
| Give Strategically | p. 93 |
| Exercise of Leverage | p. 95 |
| Make Foreign Donations Deductible | p. 96 |
| Use Public Relations Effectively | p. 97 |
| Create Financial Leverage through Tax-Exempt Financing | p. 98 |
| Let Your Foundation Do the Dirty Work | p. 98 |
| Conclusion | p. 99 |
| The Road to Hell: Beware of Unintended Consequences | p. 101 |
| Food Aid | p. 103 |
| Private Charity and Unintended Consequences | p. 105 |
| Fungible Money and Inadvertent Funding of Terrorism | p. 107 |
| How to Give Restricted Grants | p. 109 |
| Poverty-Again | p. 110 |
| Developing an Appropriate Foundation Investment Policy | p. 113 |
| What to Include in an Investment Policy | p. 113 |
| Conclusion | p. 121 |
| Developing and Implementing a Foundation Asset Allocation Policy | p. 123 |
| Differences between Corporation and Foundation Investment Plans | p. 123 |
| The Seven Deadly Sins of Foundation Asset Allocation Policy | p. 125 |
| Developing a Good Asset Allocation Policy | p. 129 |
| Should an Asset Allocation Policy Change over Time? | p. 135 |
| Capturing the Rebalancing Bonus | p. 136 |
| Active Management versus Indexing | p. 137 |
| Who Is Responsible for the Asset Allocation Policy? | p. 138 |
| Conclusion | p. 139 |
| Main Themes in Legal Compliance | p. 141 |
| Some Compliance Errors May Seem Funny, but They're Not | p. 142 |
| A Fail-Safe System | p. 143 |
| Required Activities | p. 144 |
| Prohibited Activities | p. 147 |
| Conclusion | p. 151 |
| Fraud, Inflation, and Market Risk | p. 153 |
| Stanford Case | p. 157 |
| Enron | p. 160 |
| Baptist Foundation of Arizona Case | p. 162 |
| The Bre-X Fraud | p. 163 |
| Allied Capital | p. 166 |
| Fraudulent or Not? You Decide | p. 167 |
| What Is XYZ? | p. 169 |
| How Will Social Security End? | p. 170 |
| Promised Benefits | p. 170 |
| Real Terms | p. 171 |
| Inflation: A Brief History | p. 174 |
| Inflation Indexing | p. 176 |
| Foundations and Endowments Are Highly Exposed to Inflation | p. 180 |
| Avoiding Fraud | p. 180 |
| Other Planned Giving Vehicles | p. 183 |
| Charitable Gift Annuity | p. 183 |
| Gift Annuities versus Regular Annuities | p. 184 |
| Partial Exclusion of Annuity Payments from Income Tax | p. 185 |
| Bargain Sale | p. 186 |
| Charitable Gift Annuity versus CRT | p. 189 |
| Remainder Gifts with Retained Life Estate | p. 190 |
| Pooled Income Funds | p. 192 |
| Donor-Advised Funds | p. 195 |
| History | p. 196 |
| Guidelines-Highlights | p. 196 |
| Fees and Costs | p. 199 |
| Building Assets with Charitable Planning | p. 201 |
| Professionally Managed, Turnkey Private Foundations | p. 205 |
| Foundation Manager's Role | p. 206 |
| Conclusion | p. 207 |
| How to Select a Foundation Manager | p. 209 |
| Choosing a Full-Service Manager | p. 209 |
| Conclusion | p. 212 |
| What Can You Donate to Charity? | p. 213 |
| Publicly Traded Securities | p. 213 |
| Nonpublicly Traded Business Interests | p. 215 |
| Tangible Personal Property | p. 216 |
| Intangible Personal Property | p. 218 |
| Qualified Retirement Plans | p. 221 |
| Real Estate | p. 223 |
| Conclusion | p. 225 |
| When the Shoe No Longer Fits | p. 227 |
| Private Foundations | p. 227 |
| Charitable Remainder Trusts | p. 231 |
| Getting Rid of Other Charitable Vehicles | p. 243 |
| Conclusion | p. 245 |
| Selected Resources | p. 247 |
| About the Authors | p. 249 |
| Index | p. 251 |
| Table of Contents provided by Ingram. All Rights Reserved. |
An electronic version of this book is available through VitalSource.
This book is viewable on PC, Mac, iPhone, iPad, iPod Touch, and most smartphones.
By purchasing, you will be able to view this book online, as well as download it, for the chosen number of days.
Digital License
You are licensing a digital product for a set duration. Durations are set forth in the product description, with "Lifetime" typically meaning five (5) years of online access and permanent download to a supported device. All licenses are non-transferable.
More details can be found here.
A downloadable version of this book is available through the eCampus Reader or compatible Adobe readers.
Applications are available on iOS, Android, PC, Mac, and Windows Mobile platforms.
Please view the compatibility matrix prior to purchase.