Supporting Organizations
Traditionally, philanthropic individuals and families have used private foundations to accomplish their charitable and tax planning objectives. Now there is another option - Supporting Organizations. Supporting Organizations offer donors an exclusive philanthropic identity - with none of the administrative responsibilities of a private foundation.
A Supporting Organization of the Nevada Community Foundation is a separate 501(c)(3) nonprofit organization, with its own board of directors/trustees, investment strategy, and grant-making identity. Through its relationship with the Nevada Community Foundation, a Supporting Organization enjoys public charity status and the financial, administrative, and grant-making services provided by the Nevada Community Foundation.
If you have a minimum of $1 million in assets and want more legal control than a donor-advised fund provides - but also want to benefit from the Nevada Community Foundation's expertise and services - this option is worth considering.
The following are some of the benefits of creating a Supporting Organization:
- Partnership with the Nevada Community Foundation, a permanent and established public charity
- Creation of your own philanthropic identity
- Development of your charitable mission and purpose
- Most favorable tax treatment for gifts
- Flexibility in the selection of investment agents
- The Nevada Community Foundation handles the administration, allowing you to focus your energies on giving
- Simplicity over the reporting requirements, paperwork, payout provisions or excise taxes associated with private foundations