Private Foundations

Most People, when they hear the term "private foundation" think of wealthy, well-known families, such as the Rockefellers and the Mellons - or perhaps renowned individuals, such as Bill and Melinda Gates, Ted Turner, or Warren Buffett. Private foundations are often thought to be a charitable planning tool for the very wealth; however today, because of technology and specialized administration companies, private foundation can be created and reasonably operated with initial contributions that are as low as $100,000 to $250,000.

Private foundations are not required to distribute all of their funds each year - although they must distribute  at least 5%. The possibility of a foundation's longevity allows you, as the foundation creator, to actively engage with children, grandchildren and other generations in a family activity - running the foundation.