Podcast & Whitepaper: How to Start a Private Foundation: Key Considerations and Steps
By Allen Mast, First Vice President, SunTrust Private Foundation Practice
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If you’re looking to gain more control over your charitable giving, establishing a private foundation can help you reach your philanthropic goals. Allen Mast, First Vice President, SunTrust Private Foundation Practice, talks about the reasons why people choose to establish private foundations, related compliance and financial obligations, and the steps you can take to establish a private foundation.
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Bill Longan, Senior Investment Advisor, SunTrust Foundations & Endowments Specialty Practice and Elizabeth Horsley, Attorney with Williams Mullen discuss in greater detail specific sections of Uniform Prudent Management of Institutional Funds Act (UPMIFA), and the important guidance it offers to investment stewards.
The decision to use active management, passive management or a blend of both is important. It is an evolving discussion that can be adjusted as organizational needs, the economy and financial markets change. But, it is important to remember that it is only one step in the investment process.
Establishing an effective spending policy for a foundation or endowment means balancing current and future needs. Listen to this podcast for best practices for creating a sustainable spending policy that serves your institutional mission.