GIVING
Individuals, families, or companies that have established a private foundation may often feel burdened by the associated costs and responsibilities. One way to alleviate these challenges is by transferring assets to the Barrow Community Foundation.
Under Section 507 of the Internal Revenue Code, private foundations can be terminated by transferring their assets to one or more public charities that have been in existence for at least five years. The Barrow Community Foundation meets these criteria, allowing private foundation assets to be used to create new funds or enhance existing ones.
By converting your private foundation to a Donor Advised Fund at Barrow Community Foundation, you will be able to maintain the benefits of giving to causes you care about, growing your legacy and receiving valuable tax advantages, without all of the burdens and hassles of running your own nonprofit charity.
If you’re ready to experience the joy of giving without the extra work, let’s talk about converting your foundation to a BCF Fund.
Let’s talk about how you can create positive change for the community we all love!
Angela Yarman
President and CEO
(770) 410-8655