Donor advised funds are established by families and individuals who wish to actively participate in the grant-making process. It’s simple, you make a contribution and open a special fund in honor of your family, a loved one or a group you wish to honor. Working with the Longmont Community Foundation you stay involved in the process – recommending grants to agencies and programs you would like to support. Creation of a Donor Advised Fund is simple. You open a fund with an asset – cash, real estate, appreciated securities, personal property. You receive a tax deduction for your donation and then you and your family make grants from your fund to the charities your care about.
The story from John South about the Martha South Memorial Fund illustrates how the creation of a donor advised fund can arise from modest involvement in Longmont Legacy. Though they did not have the resources to make a large one-time gift, the South’s became involved in Longmont Legacy and eventually opened a donor advised fund so members of their family can stay actively involved in helping the community. The South’s remain committed to building their fund annually as part of their year-end giving plan as well as for tax reasons.
“We started our Family Fund with the idea that we wanted our “Legacy” to our kids and grandkids and beyond to be more than just a modest monetary bequest. We believe that the most important thing we can provide to our family is a tradition and heritage that helps them build character and to lead productive and meaningful lives.
One aspect of such a heritage is caring for others who are less fortunate, and the Martha Hill South Memorial Fund serves as a vehicle to get everyone in the family involved in philanthropy. Coupled with a strong spiritual faith, we believe nothing is more meaningful than active involvement in philanthropy.” – John South