Family Foundations

Are you interested in starting a private foundation? You may want to consider a UYM Family Foundation.

UYM Charities is a 50% charitable organization under section 170 of the IRC code of 1954. This designation provides you with more control of your money in a UYM Family Foundation than as a traditional private foundation.

Why UYM?

10 Reasons to establish a private foundation with UYM.

  1. Effective Philanthropy. The foundation vehicle may facilitate organized, systematic, and targeted giving plus a small annual percentage to UYM Charities.
  2. Deductibility Plus Control. Donors may make tax-deductible donations to their own family foundation and, as foundation trustees, remain in control of the investment and management of the funds as well the final charitable disposition of the gifts.
  3. Sheltered Income Plus Control.Foundation investment income, held by the foundation’s trustees, is exempt from taxation.
  4. Consistency in Giving. Foundations may choose if and when to distribute such accumulated funds (or the income earned on accumulations). Such consistency may be particularly helpful to grantees that rely on level funding from year to year.
  5. Payment of Reasonable Compensation.Family members and others may receive reasonable compensation from the foundation in return for services rendered.
  6. Reimbursement of Travel and Other Expenses.Reasonable and direct costs of site visits and board meetings may be paid by the Foundation to family members, employees, and trustees.
  7. Double Capital Gains Tax Benefits.Capital gain is not realized when appreciated property is donated to a foundation. Donors may also claim a charitable deduction for the full market value of appreciated stock held in publicly traded companies.
  8. Estate Tax Reduction. Assets transferred to family foundations are not subject to estate taxes. This may provide triple tax savings when combined with the above benefits.
  9. Public and Community Relations. If desired, foundation grant-making may bring recognition to family members.
  10. UYM Family Foundation Fund-Raising. The foundation may plan and execute fund-raising events in support of the needy and bring public awareness.

Create a legacy with UYM

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