Overview

Sterling Foundation Management provides you with comprehensive foundation management services so that you can enjoy all the pleasure, gratification, and satisfaction that come from an effective, well-run foundation. You'll learn how we can quickly create your foundation for you, and how we free you from the administrative burden of maintaining your foundation. Most important, you'll learn about the unique set of skills, knowledge, and experience that Sterling puts to work on behalf of your foundation to give you an edge in philanthropy - the Sterling Edge.

We can help your foundation in many areas: grantmaking procedures; cash management; expert knowledge; best practices management; leverage; tax planning; Vision, Values, and Family; effectiveness measurement; and general support. We explain each of these in more detail below, and use specific examples to illustrate how we create value for our clients.

As you will see, we create value in a wide variety of ways, some of which are measurable in saved money, some in saved time, and some in saved lives. Our services more than pay for themselves in actual savings and added value for our clients.

Creating Your Foundation

Sterling makes it simple and quick for you to have your new private foundation. Typically, we create a new foundation in as little as 24 hours. We arrange for the creation of the not-for-profit entity (which is the legal status of a foundation), secure the tax identification number, and submit the application for tax free status. Initial bylaws and articles give you maximum control and maximum flexibility. These can be amended at any time as you develop and refine your views on how you want your foundation to function.

To create a new foundation, you need only complete and sign a one page application, and pay a low, all inclusive creation fee. Only three simple decisions are required on your part: what to call the foundation, whom to name as the initial directors, and how much to start your foundation with.

Foundation Administration and Management

Every foundation is required to keep complete books and records. Sterling compiles and maintains the required books and records. In addition, each foundation receives complete tax compliance services. We manage the information gathering, worksheet preparation, and tax filing (on both the federal and state level) to make sure that the foundation retains its tax-exempt status. We maintain archival copies of returns and necessary back-up information. We also monitor changes in federal and state tax laws and regulations, and make adjustments as needed.

We also manage all the necessary state and corporate requirements for each foundation. We maintain the foundation's good standing–including all necessary organizational and attorney general filings, state filing fees, and required informational reporting. We make sure that necessary items such as annual meeting minutes are completed and that organizational books and records are in proper order. Sterling also creates and maintains complete grant compliance files for each foundation. Unlike gifts from individuals, gifts from foundations must be carefully and specifically documented in order to be legal distributions. Critical pieces of information must be obtained. Many non-professionally-managed foundations simply write checks and do not perform the due diligence required by law. Failure to conduct required due diligence can result in the payment of steep excise taxes. Even worse, it can threaten the deductibility of your gifts to the foundation.

Your Success in Philanthropy

Success in philanthropy comes from doing the very most that you can, given the limits of your available resources, to make the world a better place. Sterling's role is to help you stretch those limits by putting to work for you the growing body of knowledge, skill and practical experience which we have gained over many years. We are very proud of the good that our clients have accomplished, and we are honored that they, in growing numbers, enthusiastically seek and appreciate our assistance.

Philanthropy is personal. Your desire to establish a foundation undoubtedly comes from a deeply–felt inspiration, motivation or conviction. A private foundation can be the ideal means of expressing your wishes. It enables you to put your assets to work supporting individuals, organizations or causes that are making a difference in the world. Through a foundation, you can make your mark in a notably powerful, altruistic way.

At Sterling, we understand that philanthropy is a reflection of you and your values. We custom tailor our services to meet your needs. Foundations are not mass–produced commodities, so Sterling cultivates each one to be a unique expression of the family's vision.

Your assets are a significant legacy, earned over many years in pursuing your individual objectives. Your foundation should have an impact that is equally personal and lasting.

Sterling Makes it Easy to Have Your Own Foundation

Creating and running your foundation is very easy, provided you have the right help. When you want Sterling to create your foundation, you have to make only three easy decisions:

  1. Decide who you want to serve on the board. All you need is one person. We usually recommend that your board consist of you, and as many other family members as you desire.
  2. Decide what you want to call your foundation (this will very often be your name or family name). Almost any name will work, provided it is available.
  3. Decide how much you want to start your foundation with. We can calculate the amount that will save you the most in taxes. Creating your foundation in one year does not obligate you to contribute to it in future years. You never have to give to your foundation again if you don't want to. Of course, you can contribute as often as you like, and as many times in a year as you'd like.

Our goal is to make it as easy as possible for you to get the benefits of your private foundation. You will not have to deal with complicated forms, paperwork, tax filings, regulations, or other headaches. Sterling manages all of that behind the scenes. You simply decide when and how much to give to any of your charitable interests. We worry about accounting requirements, IRS regulations and filings, state tax filings, state regulatory filings, legal compliance, grant compliance, and grant administration – so you and your family don't have to. This leaves you free to focus on the important issue: how to make the world a better place.

For more information on how we can help you create your own private foundation or help support you managing a foundation already in existence, please email us at Foundations@sterlingfoundations.com or call us directly to speak to one of our experts at 866-479-7185.