FOR PROFESSIONAL ADVISORS: Overview • Right for Your Client? • Advantages Giving Now Giving Later • Bequest Language Types of Funds Comparing Donor-Advised to Private Foundations FAQs Resources Legacy Foundation Financial Information Planned Giving Weekly News	For Professional Advisors Advantages Legacy Foundation administers charitable funds for individuals, corporations, area organizations, and for special community projects. Many of these funds are endowment funds meaning that each year only 5% of the average fund balance of these endowment funds is available for grantmaking, with the remaining principal serving as a renewable source of charitable giving forever. Other funds are "pass-through" funds in which both principal and income are distributed to charitable causes. These are solid reasons why donors choose to entrust their charitable dollars with us. Protection of Fund Assets and Investments • Legacy Foundation guarantees adherence to the original purpose of each of its funds. Donors have the assurance that the principal of their fund will be distributed in a manner consistent with the fund's original intent. • Legacy Foundation assumes the responsibility for the secure investment of all of its funds. The Foundation strives to maximize annual income or to build fund principal, in accordance with the fund purpose. • Currently, Legacy Foundation uses the investment services of Fund Evaluation Group. • We strive to offer a better investment return to each participating fund within the Foundation through (1) the pooling of assets, (2) the diversification of investments, and (3) the reduction of costs to any one fund through shared expenses. (Investment Report) • If an organization maintaining a fund ceases to exist and that fund retains a balance upon the dissolution of the organization, the Foundation has the responsibility to redirect the principal of the fund for charitable purposes which are similar to these supported by the original organization. Donors are assured that gifts given today will always be available to serve compatible charitable purposes. Administrative Services • The Foundation acknowledges all donations accepted for deposit in a fund in a timely manner. All stationery supplies and postage are provided. • An accounting of all receipts and expenditures within a fund is furnished upon request. • A listing of all donors to each fund will be provided for recognition purposes. • Distributions are made in accordance with the terms establishing each fund. • Financial statements are sent to individuals and organizations maintaining funds. • All government forms and audits are completed by the Foundation. • The Foundation keeps current on changes in the tax laws and other legislation that affect charitable giving. • The Foundation works to attract additional support for all of its funds through its publications and press releases. Other Benefits All gifts to Legacy Foundation are tax deductible. Through affiliation with the Foundation, each component fund affords its donors maximum tax advantages. Legacy Foundation or a Commercial Donor-Advised Fund? Donors today have a number of options for their philanthropy. Commercial gift funds, donor-advised vehicles offered by financial firms, offer fast online service and are a convenient for the transactional donor. But because they are national and donít have staff who live in the donorís community, they canít offer donors information about local needs. And because they are essentially online services, there is little in the way of personal service. Community foundations are nonprofit organizations, and because they are geographically based, know about local needs and the organizations that can best fill them. Legacy Foundation or a Private Foundation? Some clients may come to you with the belief that a private foundation provides their only option for long-term involvement with assets they set aside for charitable purposes. In reality, donors can establish funds at the Foundation at a lower cost with more tax benefits than private foundations, and Legacy Foundation handles all of the administrative details. The Wall Street Journal reported on April 22, 2009, there is an increasing trend toward transferring private foundations to community foundations or commercial gift funds. (View a Comparison Grid) We welcome the opportunity to consult with you and any clients who would like to discuss the advantages and disadvantages of each approach. Our desire is to help you find the solution that works best for your client. If you have any questions that have not been answered, please contact the Foundation by phone at 219-736-1880 or info@leagacyfoundationlakeco.org.
		1000 E. 80th Place, Suite 302 South, Merrillville, IN 46410 | Phone: 219-736-1880 Legacy Foundation is designated a 501(c)3 not-for-profit organization. All contributions are tax deductible to the fullest extent of the law. © Legacy Foundation and its licensors. All rights reserved.