||Can take several weeks or months.
||Legal (and other) fees are typically substantial.
|Ongoing administrative and management fees
||Endowed: Greater of $200 or 1%;Non-endowed: Greater of $250 or 1.5%, plus investment management fees
||Can be in the range of 250-400 basis points (2.5% to 4% per year).
|Tax deduction limits for gifts of cash
||50% of adjusted gross income
||30% adjusted gross income
|Tax deduction limits for gifts of stock or real property
||30% of adjusted gross income
||20% adjusted gross income
|Valuation of gifts
||Fair market value
||Fair market value for publicly traded stock, cost basis for all other gifts, including gifts of closely-held stock or real property.
|Required grant distribution
||Must expend 5% of net asset value annually, regardless of how much the assets earn.
||1%-2% of net investment income annually.
||Names of individual donors can be kept confidential if desired, and grants can be made anonymously.
||Must file detailed public tax returns on grants, investment fees, trustee names, staff salaries, etc.
||Recommend grants to favorite charitable causes.
||Manage assets, keep records, select charities, administer grants, file state and federal tax returns, maintain board minutes, etc.