Starting the Conversation with Your Client

Many of your clients want to include a favorite charitable organization(s) in their will or estate plan and will do so by directly naming those organizations. Clients who have relatively substantial assets and/or estate tax burdens, and who may be interested in starting a foundation, may want to consider partnering with our Community Foundation. We can handle a wide range of complex assets. We serve as “one-stop shopping” for clients who may have multiple charitable interests. We manage charitable legacy funds that are permanent or can distribute funds over a multiple-year period, providing your client with the flexibility to distribute funds according to their timeframe.

Donors to community foundations first learn about charitable legacy funds as vehicles for their personal philanthropy through their trusted advisor.

There are several circumstances when it makes sense to introduce the Western Colorado Community Foundation and a charitable legacy gift to your clients:

Your client is preparing a will or estate plan and has no heirs. Your client can leave a charitable gift to benefit the community that has been their home, directing what kinds of organizations to support.

Your client is considering starting a private family foundation. You may want to help your client explore the benefits of a donor-advised fund – a less expensive alternative, with fewer legal and administrative requirements. And there are favorable tax advantages for your client as well.

Your client is thinking about starting a donor-advised fund with a commercial gift fund like Fidelity Gift Fund or Vanguard. WCCF is an attractive local alternative. Our staff can provide value-added services to donors – information on giving opportunities and knowledge about nonprofit organizations and needs in our community.

Your client wants to involve children and grandchildren in “giving back” to the community. Consider establishing a donor-advised fund and involving the next generation in the tradition of family philanthropy. We have a number of donor-advised funds that have been established by parents and grandparents to involve children in giving back to the community.

Your client wants to set up an endowment to benefit their church or another favorite charity. Have your client establish a named fund at WCCF. Earnings on the endowment will go automatically to the designated nonprofit every year in the donor’s name. Your client will have confidence that the gift will be held and used for the purpose intended and maintained as a permanent source of funding for their favorite charity. For example, if a donor makes a $1,000 annual donation to his or her church, an endowment of approximately $20,000 will maintain that annual giving stream in perpetuity.

Your client is interested in establishing a scholarship to help young people from western Colorado pursue their educational dreams. Check out WCCF as your partner in managing a scholarship program in an efficient and expert manner. We manage dozens of scholarships each year.

Your client is selling property or a business or otherwise needs a significant tax deduction. Have your client set up a donor-advised fund and decide later what organizations they wish to support in future years.