Private Foundations and Donor-Advised Funds:
Advantages, Limitations and Planning Opportunities
Tony Oomen
Vice President and charitable planning consultant
Fidelity Charitable
Richard Sevcik
Managing Partner, Firmwide Co-Chair, Tax-Exempt Organizations Practice
Perkins Coie LLP
While both private foundations and DAFs enable strategic and tax-effective charitable giving, with differing structures, rules, privacy and flexibility, the two vehicles come with a unique set of advantages and limitations. We examine and compare the benefits of donor-advised funds and private foundations.
We will provide details concerning the characteristics of each vehicle and compare the tax deductibility, organization structure, administration and cost, flexibility in grantmaking, and legacy aspects of each.
Discussion topics:
- Private foundations compare to donor-advised funds
- Complementing a private foundation with a donor-advised fund
- Asking the right questions to determine the best strategy for you clients
Thank you to our Sponsor
Speaker bios:
Tony Oommen, vice president and charitable planning consultant, Fidelity Charitable®, builds relationships with advisors, enhances their understanding of Fidelity’s donor-advised fund program, and discusses ways to incorporate charitable giving into clients’ financial and wealth management plans. Mr. Oommen has dedicated his career to being a strategic advisor to high-net-worth clients and has developed a passion for helping clients identify creative and impactful ways to incorporate philanthropy into their comprehensive financial plans. Previously, he held various roles as an advisor and financial planner for private wealth management firms in Chicago and Cincinnati. He is a member of the Chicago Estate Planning Council and the Chicago Council on Planned Giving. He volunteers as a board member of the Associated Colleges of Illinois, a non-profit organization. He earned a B.S., University of Illinois.
A seasoned tax and transactional partner with roughly 30 years of experience, Richard L. Sevcik represents numerous nonprofit organizations, public charities, private foundations, healthcare systems, as well as colleges and universities. Rick’s areas of counsel encompass entity formation, ongoing operations and management, governance, reporting obligations and issues that arise in transactions involving exempt organizations.
Rick has a substantive practice counseling healthcare providers and industry participants, including representing exempt healthcare systems and hospitals in connection with corporate governance, tax compliance, transactions and joint ventures, tax exempt bond financings, and IRS reporting and community benefit issues. Rick has represented a number of healthcare systems in connection with their integration with physicians, other providers and business enterprises.
Additional Details:
- Networking begins at 7:15 a.m.
- Breakfast served at 7:30 a.m.
- Speaker Presentation at 8:00 a.m.
- Meeting concludes at 9:00 a.m.
