The Great Debate
Community Foundation vs. Private Foundation
The decision to setup a private foundation or utilize a local community foundation is a classic dilemma between control and efficiency.
Both are tools for strategic giving, but the differences are staggering - ranging from tax issues and yearly payouts to operations and cost.
According to community foundations across the country, some founders of private foundations have expressed regret for choosing to establish a private foundation over other giving alternatives. The founders said they didn't anticipate the magnitude of demands on their time, energy and resources.
In fact, after establishing a private foundation, these founders wished someone had helped them consider the costs, the benefits and the options beforehand.
Funds through community foundations are great alternatives to private foundations, and have gained in popularity among individuals who want to make a gift and stay involved. A lot of times these people do not have the time or resources required to operate a private foundation.
The Community Foundation of North Texas cites several additional advantages for utilizing its services, including flexibility and convenience.
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