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Writer's pictureKitsap Community Foundation

This may be your best move yet!


person with boxes and moving van

If you’ve already established a donor-advised fund at Kitsap Community Foundation, you can understand why it’s become such a popular tool to organize your family’s giving and serve as a springboard for so many other ways to make a difference in our region. 

 

Recently, we’ve talked with a lot of donors who work with Kitsap Community Foundation in a variety of ways, such as regularly contributing to a favorite organization’s endowment fund, supporting Kitsap Community Foundation’s operating endowment, making distributions from an IRA to a designated fund, or attending KCF’s events to rally around important community priorities. Interestingly, we are discovering that some of these donors also have established a donor-advised fund at a national financial institution and in many cases did not realize that they could have set up their donor-advised fund at Kitsap Community Foundation and keep the funds in the community. 

 

It’s time to set the record straight! 

 

For starters, Kitsap Community Foundation offers donor-advised fund holders the same tax and administrative benefits as a national financial institution, including:

  • Online access to the donor-advised fund to view balances, contributions, and grants

  • Simple process for requesting grants to favorite charities

  • Streamlined tax reporting, often represented by just one letter to provide to an accountant at tax time, even when the donor-advised fund is used to support dozens of individual charities throughout the year

  • All back-office administration, tax receipts, recordkeeping, and other requirements for the donor-advised fund’s 501(c)(3) status

  • Favorable tax-deductibility of contributions to the fund

 

Unlike standard national financial institutions’ donor-advised funds, though, Kitsap Community Foundation offers high-level, personalized services to its donor-advised fund holders, including:

  • Concierge-level service by knowledgeable staff to structure estate gifts to charities and accept gifts of appreciated stock or complex assets such as real estate or closely-held stock

  • In-house experts who have a finger on the pulse of community needs, the strengths of specific nonprofits, and how to structure grant making for the highest possible community benefit

  • Opportunities to collaborate with other donors who care about similar issues and forums to tap into local and national subject matter experts

  • Opportunities to go deep into specific issue areas, both through education and hands-on involvement

  • Assistance with structuring and measuring the impact of grants 

  • Family philanthropy and corporate giving services to foster a well-rounded, holistic approach to philanthropy 

  • Administrative fees that are reinvested into Kitsap Community Foundation, itself a nonprofit, to help support operations, grow its mission to support area nonprofits, and help even more donors support the causes they care about

  • Hands-on assistance from local experts who understand both local and distant needs, and welcome the opportunity to research and identify causes aligned with donors’ goals and priorities 

  • Staff members who live in the community they serve and often personally know the leaders and staff of grantee organizations and regularly hear about their needs first-hand

 

If you’ve established a donor-advised fund at a national financial institution, we’d love to chat about moving it over to Kitsap Community Foundation. At KCF, your hard-earned assets receive the attention they deserve as you and your family strive to make a difference in the causes you care about the most.

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