How Private
Foundations
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How Private
Foundations
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How Sterling
Foundation
Management
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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:
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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.
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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.
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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.
Sterling Provides a Complete Solution
Sterling makes having a private foundation easy, rewarding, and worry-free. Our team is dedicated to managing your foundation so you can focus on your charitable interests, not on burdensome regulations and paperwork. Our experienced staff and expert systems make sure that your foundation meets all of the necessary legal and technical requirements - so you can get the maximum enjoyment and fulfillment from being a philanthropist.
Ideally, your foundation should be an embodiment of your personal philosophy. To most effectively put your stamp on your foundation and the world it affects requires experience and expertise.
We have a unique combination of experience in all areas relevant to private foundations; we not only make sure your foundation follows the rules, we also help you achieve your goals. Having managed hundreds of millions of dollars in charitable donations, we know the process. We not only maximize your tax deductions, we maximize the impact of your donations.
Sterling offers our clients a comprehensive set of services:
Making your gifts more effective.
Because our staff has decades of experience funding, creating, and directing charitable programs, we can help your dollars do more to advance your goals.
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We can help you develop, implement, and continuously improve programs that make a real difference.
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We can use our knowledge of existing charities to help you find the best organization to advance your mission.
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We can negotiate on your behalf, to make sure that your vision and goals are achieved.
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We can help you properly evaluate grant requests.
Multiplying the value of your gifts.
By using various methods and approaches, we can ensure that your gift is leveraged as effectively as possible. It is not uncommon to make a dollar attract two, three, or even four times as much other money. This leverage is one way that the most sophisticated charitable foundations achieve maximum results. Spent properly, thousands of dollars can result in millions of dollars of new programs.
Involving your family.
Many of our clients, even as they enjoy their own success, have a strong desire to share their vision of a better world, and to teach their values to their children, grandchildren, or other young people. Sterling's Vision, Values, and Family program is a systematic, hands-on approach to using your private foundation to teach your philanthropic values, encourage charitable behavior, and develop your own family tradition of philanthropy.
Taking care of the administration and compliance details so you don't have to.
Sterling manages all of the details of your foundation, including:
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Complete bookkeeping, financial statements, and accounting services
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Complete tax services
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Maintaining your foundation in good standing, including all necessary corporate and attorney general filings, state filing fees, and required informational reporting
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Administering grant disbursements
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Keeping complete grant compliance files for your foundation
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Constantly monitoring changes in tax laws and state regulations
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Maintaining all required archival material
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Post-grant evaluation and fulfillment
Providing expert advice on technical issues.
Whether it is a question of charity tickets, prohibited transactions, restricted gifts, or any of the other hundreds of potential issues, our staff knows the rules for private foundations. The IRS levies considerable penalty taxes against foundations that don't carefully follow the regulations; Sterling eliminates that concern for your foundation.
Focusing on having your foundation do what you want.
Sterling's staff will work with you in many additional areas to help you get more from your foundation. For example, we have worked with other clients, and can work with you, to:
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Refine your vision and mission
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Establish measures of effectiveness
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Permanently maintain your intent and direction
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Use public relations to advance your goals
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Attain public charity board membership
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Allow otherwise-nondeductible gifts to foreign charities to be tax-deductible
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Help determine the best way to spark new interest in your ideas
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