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Advantages Over a Private Foundation

The savings in choosing an ABE Charitable Gift Account rather than a private foundation are realized many ways:

  ABE Private Foundation
START-UP COSTS None Substantial
DEDUCTION LIMITS FOR CASH GIFTS 50 percent of adjusted gross income 30 percent of adjusted gross income
DEDUCTION LIMITS FOR APPRECIATED ASSETS 30 percent of adjusted gross income 20 percent of adjusted gross income
EXCISE TAXES None Up to 2 percent of the foundation's net investment income annually
TAX REPORTING None1 Annual state, federal returns
ADMINISTRATIVE RESPONSIBILITIES Recommending grants Managing assets, keeping records, selecting charities, administering grants
PRIVACY Anonymity, if desired Grants part of public record

1The Donor must obtain a receipt of the contribution from ABE and report the contribution on his or her individual income tax return for the year of the contribution to ABE.

W13/14

"Philanthropy is very important to me and my family. The ABE offers a great vehicle for managing charitable giving called the Charitable Gift Fund (CGF). The CGF allows ABA Members to make a donation for which they receive an immediate tax deduction. When convenient, donors can then recommend donations to other charitable organizations of his or her choosing. ABE handles all the paperwork, so philanthropy becomes what it should be - easy!"

I. S. Leevy Johnson
ABA Member/ABE Director
ABE member since 1968

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