WAYS TO GIVE
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!
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 an easy method for making regular gifts 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 your own named fund through which to direct your charitable giving. 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 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 record-keeping 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.”
Frequently Asked Questions
Q. How can I set up a donor-advised fund with the Seattle Pacific Gift Fund?
A. Setting up a donor-advised fund with the Seattle Pacific Gift Fund is as easy as completing a simple application and transferring assets. Gifts are irrevocable. Please call 206-281-2702 for more information.
Q. How much does it take to get started?
A. Getting started takes as little as $20,000. To complete an application, please call 206-281-2702, toll free at 888-591-9778, or email us today (spf@spu.edu).
Q. What charities can I recommend to receive distributions?
A. 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.
Q. How often can I recommend that distributions be made to charities of my choice?
A. Recommendations may be made as often as you wish. Distributions can be made as frequently as monthly.
Q. How does a donor advised fund differ from a private foundation?
A.
| Private Foundations | Seattle Pacific Gift Fund |
| Legal and accounting fees to establish and run. | No start-up costs. 1.5 percent annual fee that is waived if 5 percent of fund value is contributed to SPU annually. |
| 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 percent of personal income for appreciated property at 100 percent of fair market value. | Current year tax benefit limited to 50 percent of personal income for cash gifts and 30 percent of personal income for appreciated property at 100 percent of fair market value. |
| Excise taxes up to 2 percent 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. |
Q. Can I add to the fund after my initial gift?
A.
Yes. Additional gifts of $1,000 or more may be added at any time.
Q. Who manages the investment of the funds?
A. The corporate officers are as follows:
Gordon A. Nygard, President
Mary A. Williams, Secretary
Edward B. Kibble, Treasurer
The organizing directors are as follows:
Edward (Ted) B. Kibble, Kibble & Prentice Inc.
Robert D. McIntosh, Seattle Pacific University
Gordon A. Nygard, Seattle Pacific University
Mary A. Williams
For further information about the Seattle Pacific Gift Fund, call 206-281-2702, toll free at
888-591-9778, or email us at spf@spu.edu.
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