Ten reasons why you should discuss
The Community Foundation in Wales
with your clients
1. It’s good for your business, your clients and the community
If you’re like many professional advisors, you’ve hesitated to raise the subject of philanthropy with your clients.
However, research shows that wealthy people are eager to learn more about charitable giving from their professional advisors.
In other words, if you make an effort to become better informed about the pivotal role philanthropy can play in estate planning, your clients will thank you.
2. It’s Timely
Each change in your client’s financial or family circumstances canbe an opportunity to talk about philanthropy.
By creating a charitable fund, you can help your clients avoid capital gains taxes, leave more of their estate to their children and benefit the community.
Below are just a few situations that might present a charitable opportunity:
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Creating an estate plan
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Approaching retirement
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Disposing of long-term capital gain property
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Minimising the tax impact of a financial windfall
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Ownership transitions in closely held companies
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Managing an inheritance
3. Professional Grant Maker
We are a professional grant maker who understands the needs of the community.
We can target money precisely, in terms of both a geographical area and an area of interest.
Groups are assessed before grants are made and monitored to ensure donations are not wasted.
4. Service to Donors
We seek to match donor interests with community needs and offer donors the opportunity to get involved with the grant making process.
Donors have the opportunity to reach small local groups that might otherwise be overlooked.
Donors can re-direct requests for support from local charities to CFiW who will respond appropriately.
5. Excellent Knowledge
As a charitable organisation working closely with communities throughout Wales, we have excellent knowledge of the voluntary sector; existing and new groups, of the community’s problems and issues.
6. Transfer of Charitable Trusts
Over the years, we have been approached by several trusts who had decided it was the right time to wind up their affairs, either because:-.
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Original charitable objectives have been fulfilled.
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Income is no longer sufficient to continue grant making
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Administration has become too time consuming
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Trustees wish to retire
In these circumstances, we have assumed management of established charitable trusts by recreating them as funds within the Community Foundation in Wales.
7. Preserve Anonymity
Many people like to preserve their anonymity and CFiW offers an ideal vehicle to do this by giving out grants from a specially named fund.
8. A flexible alternative to a charitable trust
Each fund can be individualised with the donor name and a set of criteria and has a officer to ensure the best possible service to our fund holders.
The named fund will come under the charitable status of CFiW and be ultimately governed by our board of trustees.
This means your clients will not need to set up their own set of trustees and adherence to charitable law will be our responsibility.
9. For Companies
Your client’s company can achieve its community involvement and social and corporate responsibility objectives through targeted grants to local community groups, where a small amount of money can make a significant impact.
A named fund can maximise the promotion of the company’s brand, their charitable giving and community involvement.
10. Giving Back to the local community
Most importantly your clients have the opportunity to make a real difference to life in Wales and, in partnership with us, you can help them achieve their charitable aims in an effective and efficient way.
Did you know it is possible to eliminate income tax liability by annual share transfers?
