A Giving Fund (also known as a Donor-Advised Fund) is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about. Giving Funds are the fastest-growing charitable vehicle in the United States because they are one of the easiest and most tax-advantageous ways to give to charity.
You have full access to your fund through an Online Fund View portal and can review:
*Make checks payable to “WaterStone” referencing your fund number on the memo line and mail to 10807 New Allegiance Drive, Suite 240, Colorado Springs, CO 80921.
Contact Giving Strategies at firstname.lastname@example.org for transfer instructions.
Yes. We specialize in transforming complex assets into living water for the Kingdom. Please contact Giving Strategies at email@example.com to determine the best solution for your personal, charitable objectives.
Individual receipts are available/printable anytime through your Online Fund View. Annual cumulative receipts are mailed by January 31st.
Grant recommendations can be made free of charge online. Due diligence is processed on new organizations prior to releasing any grants. Grant checks are mailed out weekly with a letter indicating which WaterStone fund recommended the grant. Grant checks can also be sent out anonymously.
You may give to any charity that is an IRS registered, tax-exempt 501(c)3 whose mission statement does not conflict with WaterStone’s Statement of Faith.
The IRS specifically disallows charitable distributions that:
Nonqualified Grants may be available to support charitable activity for foreign or non-501(c)(3) entities. Please contact Giving Strategies at firstname.lastname@example.org for more details.
To name your WaterStone Giving Fund as the charitable beneficiary for a Will, Bequest, IRA, Insurance, or Trust, list as follows:
The Christian Community Foundation Inc. dba WaterStone, Tax ID # 75-1750059, for benefit of (Name of WaterStone Giving Fund), (Fund #).
*Do not include specific charities in your estate documents, as these will be listed on your Giving Fund and can be updated at any time.
In recent years, private foundations have come under increasing scrutiny by Congress and the Internal Revenue Service due to recent abuses and questionable practices. Giving Funds are a very attractive alternative since they avoid the administrative responsibilities and provide many other benefits. Converting private foundations into Giving Funds is a growing trend in the nonprofit arena. Learn more about about Private Foundations vs. Giving Funds here.
A WaterStone Giving Fund operates similar to a private foundation but with added flexibility and maintaining the highest level of confidentiality and respect for your privacy. Depending upon your objectives, you may simply enhance your family foundation with the addition of a Giving Fund or completely dissolve your family foundation into a Giving Fund. WaterStone has the experience to assist you with either approach.
The IRS requires all foundations to file an annual tax return. With a Private foundation, this burden falls on you. A WaterStone Giving Fund simplifies this process because we handle the administrative and fiduciary responsibilities for you.
A CPT that has been open for three years or less qualifies as a “young fund” which is eligible to use the yearly applicable federal rate (AFR) in calculating the charitable tax deduction; because of the low applicable rate the tax deduction is usually quite significant.
A Charitable Remainder Trust may be an important solution in your planning; a way for you to make an irrevocable gift to charity while retaining a split-financial interest in the gift. Contact Giving Strategies at email@example.com for guidance on the services that WaterStone offers.
A Charitable Remainder Trust is recommended for initial contributions over $250,000.
Charitable Trusts are best established with highly appreciated assets, such as securities or real estate.
A trust is a legal document and requires objective, independent counsel. WaterStone can recommend a reputable attorney or can work with you and your legal counsel to establish your charitable trust.