Stretching Family Control Over Charitable Interests
When a private foundation is established alongside either a charitable remainder trust or charitable lead trust, you and your family can receive all the usual benefits of these trusts while retaining charitable control—potentially forever.
Tax Benefits of Creating a Private Foundation
In addition to the many philanthropic reasons a donor might have for establishing a private foundation, there are also short-term and long-term tax benefits to consider. Foundation Source's Jeffrey D. Haskell shares four main tax benefits of giving to a private foundation.