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THE SAINT PAUL FOUNDATION <br /> MINNESOTA COMMUNITY FOUNDATION o <br /> �d t <br /> What ' s your vision ? com MOO <br /> Establishing Family Foundations <br /> Three Alternatives <br /> Is A Family Foundation For You? <br /> Because of your personal success,you are in a unique position to benefit those people and organizations you care <br /> most about. As you develop your financial and estate plans,you may discover that charitable giving will benefit you <br /> both personally and financially. A traditional mechanism for philanthropy and charitable giving has been the private <br /> family foundation. While this structure is still available,there are other interesting alternatives you can consider. <br /> Family Foundation Alternatives <br /> You can structure a foundation for your family in three ways: as a donor advised fund, a support organization,or a <br /> private foundation. Minnesota Community Foundation and The Saint Paul Foundation have prepared this comparison <br /> to help you decide which structure is right for you. As you study this chart, you will notice that two of the alternatives <br /> are based on a relationship with organizations like Minnesota Community Foundation or The Saint Paul Foundation. <br /> Donor Advised Funds <br /> Through an agreement with either foundation,your contribution will be set up in a specially named fund. The fund <br /> will be managed and administered by Minnesota Community Foundation/The Saint Paul Foundation. You will be <br /> able to choose fund advisors and advise the Foundation about preferences regarding grant recipients and gift amounts. <br /> Distributions will be made in the fund's name and you will receive quarterly financial statements. As the fund is <br /> considered part of Minnesota Community Foundation/The Saint Paul Foundation's holdings, it will receive all related <br /> tax-exempt benefits. <br /> Support Organizations <br /> Through a unique collaboration with Minnesota Community Foundation/The Saint Paul Foundation,you can form a <br /> support organization. Structured as a separate corporation with its own articles and bylaws,a support organization <br /> maintains its own nonprofit board,which makes the investment, financial and grantmaking decisions for the <br /> organization. However,by sharing management and administration with Minnesota Community Foundation/ <br /> The Saint Paul Foundation,a support organization is particularly cost effective. Most important, it is—for tax <br /> purposes—a public charity entitling its donors to the most generous charitable tax deductions available. <br /> Private Foundations <br /> Private foundations allow extensive donor control over distributions and board selection. However,they are highly <br /> controlled by the government with many special restrictions, including administrative and reporting burdens, public <br /> access to information,excise taxes and a required minimum payout. <br /> Minnesota Community Foundation/The Saint Paul Foundation <br /> Minnesota Community Foundation and The Saint Paul Foundation are community foundations. Each foundation is a <br /> public charity that administers and manages,charitable funds—including family foundations—on behalf of private <br /> donors,families and nonprofit organizations.Together they manage assets of more than$570 million. We would <br /> welcome the opportunity to work with you as you consider establishing a family foundation. <br /> For more information about establishing a family foundation, contact: <br /> Minnesota Community Foundation/The Saint Paul Foundation,55 Fifth Street East-Suite 600,Saint Paul,Minnesota 55101-1797 <br /> Telephone:651.224.5463 or 800.875.6167 • Fax:651.224.9502 • www.mncommunityfoundafion.org • www.saintpaulfoundation.org <br />