For the majority of Americans, the tax overhaul has altered or reduced many of the financial incentives for making charitable donations. But charitable giving is rarely driven solely by the desire to trim tax bills.
Two common charitable giving vehicles are donor advised funds (DAFs) and private foundations. A DAF is an account housed in and governed by a public charity. A private foundation is a standalone trust or nonprofit corporation that qualifies as a tax-exempt organization.
If you are a newer family foundation with one or two generations on the board, five generations may seem like a long time away. Yet in family philanthropy, quite a few foundations have been operating and thriving for 50, 75, even 100 years.
The fifth generation of John E. Andrus’s descendants, drawing from nearly 500 Andrus family members, operates with carefully developed governance practices that they believe yield a more effective board—and foundation.
We are living through a fundamental transformation in the way we work. Automation and 'thinking machines' are changing the skills workers need, while demographic changes promise a talent shortage, longer lifespans, and other significant shifts that will affect the workplace.
In light of the high conflict nature of many divorces, and the cost and time associated with divorce litigation, many couples attempt to pre-plan for the possibility of a later divorce by executing a pre-marital agreement.