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SCCF Charitable Funds
Private Foundation
Emphasis
Christian stewardship advising clients with an eternal perspective. Ability to give to most Christian and secular charities.
Emphasis determined by board; mission can drift or change over time
Grantmaking advice
SCCF staff helps clients identify, research and assess grant recipients based on the client's passions and goals.
Must be arranged and paid for by the foundation
Annual fees
Multiple options: Administrative Fee choice is 1% of assets, plus annual investment expense of 0.25%
Administration of grant requests, investment support, and philanthropic counsel are staffed and financed by the donor independently
IRS reporting
None
Annual tax return required, including detailed financial schedules
Income Tax Deductions For:
Up to 50% of adjusted gross income
Up to 30% of adjusted gross income
Cash gifts
Publicly-traded securities
Fair market value up to 30 % of adjusted gross income
Fair market value up to 20% of adjusted gross income
Real estate, closely-held securities
Fair market value up to 30% of adjusted gross income
Deductible at cost basis up to 20% of adjusted gross income
Start-up considerations:
None
Costly legal and accounting fees to establish a foundation
Costs
Timeframe
Immediate
Several months
Minimum contribution
None
None, but smaller private foundations may not be cost-effective
Taxes
None
Excise tax is 2% of net investment income, including net capital gains
Distribution requirements
None . Assets in your SCCF Fund may remain in your account without required distributions or penalties.
At least 5% of net asset value annually. Penalty tax is 30% of undistributed amount
Tax status
All deposits into your fund are covered under SCCF’s public charity status and are deductible to the maximum amount.
Applies to IRS for private foundation tax-exempt status
Privacy
Donors may remain anonymous. Your fund and giving are confidential.
Complete information on contributions to and disbursements from your foundation are public record.


 

 
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