Have you ever wondered about starting your own credit union foundation but got stopped in your tracks because even the idea felt daunting? You’re not alone. And great news: your Cornerstone Foundation has a solution.
A Cornerstone Foundation Donor Advised Fund offers many of the advantages of a private/public credit union foundation without the initial set-up costs, ongoing excise taxes, and administrative expenses. By partnering with the Cornerstone Foundation, your credit union will avoid the continual compliance and reporting requirements, as well as a separate accounting system, to track your nonprofit’s financials. And you’ll simplify and improve your credit union’s charitable giving because donors (both individuals and organizations) can leverage the tax deductibility of donations.
Benefits of a Donor Advised Fund
Allegiance Credit Union President/CEO Amy Downs worked with the Cornerstone Foundation to establish the ACU Cares Foundation.
“The Cornerstone Foundation’s Donor Advised Fund opportunity enabled us to establish the ACU Cares Foundation, led by a committee of our employees, several years earlier than we had thought possible and at a fraction of the cost,” said Downs. “Thanks to Cornerstone’s partnership for helping us to help our community.”
A Cornerstone Foundation Donor Advised Fund gives your credit union the flexibility of its own foundation without the expense of time, energy, staff, money, and other resources required to start and manage a private/public foundation on your own.
To learn more, contact Cornerstone Foundation Grants Manager Emily Moreno today at firstname.lastname@example.org.
Sign up to the receive the weekly Leaguer email. Existing subscribers can manage their subscription.