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The new
philanthropist has emerged in the Pacific Northwest, where
new wealth has been created through innovative enterprise
and technology. As a result, more and more people are looking
for a new philanthropy - a venture philanthropy. People like
you are looking for opportunities to make a difference.
Have
you ever thought about establishing your own private foundation?
Or thought there must be a better, more tax efficient way
of handling your charitable gifts? If so, the new Seattle
Pacific Gift Fund may be the perfect answer!
You want to enjoy:
- Leveraging your giving into the future
- The benefits of a private foundation with maximum tax
advantages
- Continuing involvement
- Professional management and recordkeeping
- Partnering with the mission and vision of Seattle Pacific
University
Leveraging Your Giving into the Future
The Seattle Pacific Gift Fund exists to provide a vehicle for
venture philanthropy, including a donor advised fund, through
which donors can enjoy continuing involvement, maximum tax benefits,
and a method for regular, planned giving to multiple charities.
Gifts to the fund may include cash or appreciated assets such
as securities. Gifts of appreciated assets avoid capital gains
tax, further maximizing the charitable benefit and gift planning
opportunities.
The Benefits of a Private Foundation with Maximum Tax Advantages
The Seattle Pacific Gift Fund affords many of the benefits of
a private foundation without all the expense and complexities.
A donor advised fund allows you to set aside assets for charitable
purposes and receive an immediate charitable deduction. Without
the costs and complexities of a private foundation, you enjoy
the most generous and immediate maximum tax benefits.
Continuing Involvement
Through the Seattle Pacific Gift Fund, you create a fund through
which giving takes place. You remain active and involved, recommending
the timing and amount of distributions, and the selection of
charities. You continue to be involved with ongoing decision-making
as long as your fund still exists.
Professional Management and Recordkeeping
With professional management, the assets are designed to increase,
growing tax free, so that giving is maximized. The Seattle Pacific
Gift Fund maintains records, makes the distributions, and issues
statements to the donor. All your recordkeeping is streamlined
and your giving is maintained through a convenient, single source.
Partnering with the Mission and Vision of Seattle Pacific University
The Seattle Pacific Gift Fund encourages you to give to efforts
that make a difference in our community, with an emphasis on
support for education and other efforts consistent with the
mission of Seattle Pacific University. The Seattle Pacific Gift
Fund is established to further the bringing of knowledge, skill,
faith and hope to local communities and beyond. Join us in the
newest way we are “Engaging the Culture and Changing the World.”
For further information about the Seattle Pacific Gift Fund,
please call (206) 281-2993, toll free at
(888) 591-9778, or e-mail us at giftfund@spu.edu.
Frequently Asked Questions
1. How can I set up a fund with the Seattle Pacific Gift
Fund? Setting up a fund with the Seattle Pacific Gift Fund
is as easy as completing a simple application and transferring
assets. Gifts are irrevocable. Please call (206) 281-2993 for
more information.
2. How much does it take to get started? Getting started
takes as little as $20,000. To complete an application, please
call (206) 281-2993, toll free at (888) 591-9778, or e-mail
us at giftfund@spu.edu.
3. What charities can I recommend to receive distributions?
The Seattle Pacific Gift Fund maintains a list of specific charitable
needs to which you may request distributions be made, and a
list of specific charitable organizations that have been deemed
deserving of support. You are encouraged to recommend qualified
charitable organizations and/or programs, projects, and activities
of qualified organizations for inclusion in the List of Charitable
Needs and List of Charitable Organizations. The Seattle Pacific
Gift Fund investigates all recommendations you make.
4. How often can I recommend that distributions be made to
charities of my choice? Recommendations may be made as often
as you wish. Distributions can be made as frequently as monthly.
5. How does a donor advised fund differ from a private foundation?
| Private
Foundations |
Seattle
Pacific Gift Fund |
| Legal and accounting
fees to establish. |
No start-up costs. |
| Foundations need to manage
assets, balance books, keep records, and prepare foundation
tax returns. |
The Seattle Pacific Gift
Fund provides all administration, investment, and record-keeping
services. |
| Current year tax benefit
limited to: 30% of personal income for cash gifts and
20% of personal income for publicly traded securities
at 100% of fair market value. |
Current year tax benefit
limited to: 50% of personal income for cash gifts and
30% of personal income for appreciated property at 100%
of fair market value. |
| Excise taxes up to 2% of
investment income annually. |
No tax on Seattle Pacific
Gift Fund investment income. |
| Must investigate the tax
exempt status and actions of charity. |
The Seattle Pacific Gift
Fund investigates the actions and tax exempt status of
all recipients. |
6. Can I add to the fund after my initial gift? Yes.
Additional gifts of $1,000 or more may be added at any time.
7. Who manages the investment of the funds?
The corporate officers are:
Gordon A. Nygard, President
Mary A. Williams, Secretary
Edward B. Kibble, Treasurer
The organizing directors are:
Edward (Ted) B. Kibble, Kibble & Prentice, Inc. Robert D.
McIntosh, Seattle Pacific University Gordon A. Nygard, Seattle
Pacific University
Mary A. Williams
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