Info for Donors
One of the many distinguishing characteristics of the Moline
Foundation is our flexibility in helping individuals and
families achieve philanthropic goals, while serving as a useful
financial and tax planning tool. To illustrate this flexibility
and to suggest circumstances which might match your needs, we
have outlined below a sample set of additional “situation uses”
of the Foundation:
Are you a citizen with charitable intent who:
1. Wants to fund present, and future charitable giving late in
the tax year?
Establishing a Donor Advised Fund within the Moline Foundation
would allow you to deduct the entire amount set aside in the
advised fund for charitable giving in the current year despite
the fact that some of the portion or all of the fund will not be
distributed until future years.
2. Is tired of the “fuss and bother” (and expense) of
maintaining a family foundation established some years earlier?
Transferring the family foundation’s assets to a Donor Advised
Fund or a Supporting Organization within the Moline Foundation
is a possible solution. In either case, the Moline Foundation
would assume responsibility for administration and investment
management. In addition, the expenses of the family’s giving
vehicle would almost certainly be reduced.
3. Wants “to give something back” in an estate planning
conversation?
Creating an Unrestricted or a Preference Fund within the Moline
Foundation might appeal to someone who is looking for ways to
make certain that funds left for charitable purposes are
effectively used over the long term.
4. Is attracted to the idea of using a Charitable Lead Trust to
pass on assets to heirs, but is not certain which charities
should benefit from the Trust’s required annual charitable
distributions?
Establishing a Donor Advised Fund at the Moline Foundation to
receive the annual charitable distributions would allow the
donor to take the time necessary to make careful giving
decision, on the client’s schedule rather than on Uncle Sam’s. A
Preference Fund or Field of Interest Fund within the Foundation
could also receive the required distributions. A donor selecting
one of these options would specify an area of interest of
concern (for example, the arts) but would leave the individual
grant choices to the Foundation.
5. Wants to perpetuate giving to several charitable
organizations as part of your estate plan?
Leaving all or a portion of the estate to fund a Designated Fund
within the Moline Foundation, with the charities splitting the
Designated Fund’s annual revenue, might help you achieve this
objective.
6. Needs help introducing children to the “responsibilities of
wealthy” and wants to find a way to “teach philanthropy?”
Funding a Donor Advised Fund within the Moline Foundation and
asking the Foundation’s staff to consult with the family and
develop and implement a meaningful philanthropic program might
be a good first step.
7. Like the idea of using a Charitable Remainder Trust to unlock
the income potential of a low basis growth stock paying little
of no dividend, but also feels a responsibility to use the asset
to leave a substantial legacy for your heirs?
Creating an Irrevocable Life Insurance Trust, funded with the
tax savings and a portion of the increased income form the
Charitable Remainder Trust, could make possible two “legacies”.
First, the heirs would receive a “wealthy legacy” in the form of
the Death benefit from the Life Insurance Trust on the death of
the donor; second, the distribution from the Charitable
Remainder Trust could be used to establish a “philanthropic
legacy” for the community in the form of an Unrestricted of
Field of Interest Fund that will work in perpetuity to improve
the region.
8. Is the owner of a growing retail or manufacturing business
and wants to make a permanent gift to the community but also
wants to begin transferring shares in the business to heirs?
The owner can donate shares of a closely-held business to the
Foundation to establish a Scholarship Fund for students
interested in the retail or manufacturing field without paying a
capital gains tax on the appreciation of the shares. The heirs
can then repurchase the shares from the foundation enabling
shares to be transferred without estate taxes.
9. Is worried about the organization to be supported with
testamentary gift, asking “how can I protect my bequest for
‘early childhood education’ if the organization I name in my
will closed its doors at some point in the future?”
Funding a Preference Fund within the Moline Foundation through
estate planning would give you comfort in knowing that the Foundation would use
your legacy for the stated purpose in perpetuity, directing
grants to the specified organization, or to others providing
early childhood education if the named organization ceases to
exist.
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Click here to learn more about a recent story on how
the Moline Foundation has touched a life.
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