A tax-exempt private foundation can be a useful tool if you or your family want to commit a significant portion of your wealth to charitable causes. Private foundations are an effective way to:
A private foundation provides you with a nonprofit entity that’s wholly dedicated to your giving. You’ll have full control over the management and distribution of your assets—in the form of grant-making activities—and can appoint family members to serve as the foundation’s board of directors, officers or trustees. Bank of American’s private foundation services can help you achieve your philanthropic vision with:
Whether you want to establish a new foundation or offload the administrative burden of an existing one, Bank of America has the services and expertise to help you realize your personal philanthropic vision, allowing you to give in the ways most meaningful to you.
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