Tim and Polly established a Family Legacy Fund as one of the ways to support their philanthropic goals. The fund was established as a donor-advised fund through a foundation (these are sometimes referred to as charitable funds).
They can make gifts to the fund at the time of their choosing; the typical gift is appreciated stock. Upon transferring the asset to the fund, they receive a charitable tax deduction. Then they can request grants from the fund to support their favorite charities. It is a simple, flexible, and convenient way to meet some of their goals.
One of the other benefits for Tim and Polly is the opportunity to get their two daughters, along with their sons-in-law, involved in the process. It is a way of showing them how to use the blessings God has poured out on them to help others. In 2015 their Family Legacy Fund made a lead gift to start Your Time of Grace.
Is a donor advised fund right for you?
If you would like to make a gift in this way to support Time of Grace Ministry, please contact us. We would be happy to assist you and answer any questions that you have.
*Please note: Since the benefits of a donor advised fund may differ depending on your personal circumstances, please consult with your legal, tax, or financial advisor.