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Section 2: Resource 2

Funding Your Family Foundation

The decisions of when to fund a foundation and how much to fund it with will depend not only on a founder's available assets, but also on how the founder plans to use the foundation. A founder can fund a foundation with one lump-sum contribution and make no further gift. Alternatively, the founder may decide to make periodic contributions to the foundation to build up its assets over a period of years.

This section provides additional reading and guidance on the considerations around how best to fund your family foundation. For a wide variety of additional resources on this topic, current NCFP Friends are invited to login to NCFP's Family Philanthropy Online Knowledge Center. Please note that the National Center for Family Philanthropy cannot be held liable for specific policies or practices that you adopt after reviewing the documents included here.

Read (15 minutes)
Getting Started: Vehicle Comparison Chart This chart provides information on tax deduction limits for gifts of cash and other assets, as well as guidance on control of foundation assets, required payout, privacy, and other issues.
Read (5 minutes)
Life Cycle of a Private Foundation: Starting Out An IRS overview of the trust instrument, corporate charter, articles of association, and other written instruments by which a new private family foundation is created under state law.
Read (30 minutes)
Estate Planning as a Family: A Collaborative Approach This Passages Issue Brief introduces an approach to estate planning designed to help families initiate and carry out an effective discussion around estate planning.
Read (30 minutes)
Private Foundations: What You Need To Know This briefing paper by Erik Dryburgh of Adler & Colvin, LLP provides an overview of reasons and options for creating a private family foundation.