Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between a private, family foundation and a community foundation?

April 26, 2017difference family foundation private

0

Posted

What is the difference between a private, family foundation and a community foundation?

1 Answer

0

Posted

Many people don’t realize that a community foundation offers an easier alternative to establishing a private family foundation. Setting up a fund has an extremely short turn-around time, as little as one day. The foundation handles screening for grants, and all reporting requirements. Donors may choose to leave their funds dormant in a given year, as the foundation does not have the payout requirements of a family foundation. Finally, a community foundation enjoys all the tax advantages of a public charity with the lasting quality of a private foundation.