Laura Heintzelman
President & CEO
(231) 723-7269

Private Foundation?

Private Foundation Transfers

You have a choice when deciding how to achieve your philanthropic objectives: Create a private foundation or create a Fund in the Manistee County Community Foundation.

Creating a private foundation subjects you to a number of regulatory requirements, including submitting an exemption application to the IRS, ongoing administrative and fiduciary responsibilities, reduced charitable deductions and a lack of privacy.

Many people are unaware of the management responsibilities and rules governing private foundations—a problem that can create many traps for the unwary. The Manistee County Community Foundation, on the other hand, simplifies philanthropy.The Foundation has been granted status as a public charity—the various regulations, taxes and administrative requirements required to establish and manage a private foundation do not apply to us.

This chart summarizes some of the most significant distinctions between a private foundation and a Donor Advised Fund at the Manistee County Community Foundation.

See a chart showing the differences between Private Foundations vs. Manistee County Community Foundation by clicking here.