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Private Foundation

Wealth Manager






I’m Dale Koblenzer, financial advisor at Merrill Lynch. In a relationship-driven business like ours, I’m always looking for ways to add value to my client relationships.

Dale KoblenzerOne of the greatest values I can offer clients goes beyond dollars and cents: It’s helping them create their charitable legacy. My partner in doing that is Akron Community Foundation.

The community foundation leaves the financial expertise to me. I help my clients wisely invest their money, and Akron Community Foundation helps them make good charitable decisions. For instance, if a client has an upcoming liquidity event, within 24 hours and with only $5,000, Akron Community Foundation can start them a donor-advised fund. But if the gift is large, I can continue managing the assets, maintaining that ever-important trust relationship I work so hard to build.

When I explain the benefits to my clients, it’s an easy sell:

  • Maximum tax advantage for a charitable gift, much greater than creating a private foundation. That deduction is immediate, and clients can decide later which agencies to support.
  • Knowledgeable local resource. Because the community foundation is in Akron, not hundreds of miles away, they know what’s going on in our community. So clients can give locally, have their money managed locally, and see the fruits of their gifts locally. The community foundation handles all the paperwork: I manage the investments and they handle all the administration.
  • A family legacy. Donor-advised funds can be passed down from generation to generation, continuing the family name in perpetuity. This creates an immediate relationship with family members I might never have met otherwise.

If you’ve never done so, I encourage you to talk to Akron Community Foundation about how they can enhance your client offerings. It’s fast, it’s easy and it’s good for everyone, including the community.

Akron Community Foundation offers many charitable partnership options for financial managers. What can we help you with?

I need a resource I can turn to for information about charitable giving.

Akron Community Foundation is like having an expert on charitable giving and the local nonprofit sector on speed dial. We arm you with knowledge that you can later pass on to your clients when they ask questions about philanthropy. Our online tools and calculators give you 24/7 access to the information you need, and our staff is always available for personal meetings. We can help you and your client explore exciting options, including types of funds, planned giving, leaving a legacy, charitable bequests, the best assets to give, and more.

My client wants to leave a permanent charitable legacy.

Our goal is to help your client achieve their philanthropic dreams, however specific or broad they may be. Grants from an endowed fund are made in perpetuity in your client's name and are celebrated through our grant announcements, annual reports and media releases, should your client wish. Even if the charity your client names ceases to exist, our staff will find another charity with the same mission to ensure the fund continues to support the cause of their choice. We can preserve even the most specific of charitable intents, from spaying feral cats to attracting students to the field of entomology. That way, 100 years from now, your client's family will still be supporting the causes they care about, and their charitable values will be upheld. 

My client wants to include their children and grandchildren in their philanthropy.

You can easily help your client create a family legacy with a fund at the community foundation. Akron Community Foundation offers fundholders the ability to name their children, grandchildren, nieces, nephews or other family members as successor advisors who recommend grants from their fund. By communicating with your client about their family's charitable goals and values, you can help them carry on a legacy for years to come.

Our donor services staff meets with families throughout the year – at the community foundation offices and in their home – to facilitate talks about charitable giving. If your client wishes, our staff can even offer a list of fully vetted nonprofit programs in the family's area of charitable interest. Children especially enjoy learning about local programs and selecting their favorite organizations to receive grants. In addition, by involving your client's children and grandchildren in their philanthropy, you build relationships with the next generation of their family, ensuring a strong connection for years to come.

I would like to continue managing my client's assets once they are transferred to the community foundation.

You've come to the right place. If your client starts a donor-advised fund with an initial gift of $250,000 or more, they can recommend that you continue managing the assets of their fund, as long as you are in accordance with our official outside manager policy.

My client wants insight into which local nonprofits are doing what and well.

Donor advisors can take advantage of the community foundation’s deep knowledge of the region’s nonprofits. We offer your client potential grant opportunities based on their area of interest and give them insight into local issues. We can even take you and your client on personal tours of area nonprofits so you can see the programs in action. This is a unique service you can offer your client that they won't find elsewhere. Or, we can contact one of the nearly 800 community foundations across the country if your client, for example, wants to recommend a grant where another family member lives. Except in extraordinary cases where significant expenses are incurred, there is no charge for this service.

My client's cash assets are limited, but they want to do something significant and charitable.

Akron Community Foundation offers planned giving instruments, such as charitable remainder trusts, that offer your client a tax break now while supporting the cause or charity of their choice after their death. Your client can do so through one of our charitable fund options, or through one of our existing funds. Some of your clients – those with moderate to high net worths, those without heirs, business owners and seniors with over-funded retirement plans – may have unique estate or tax situations that can benefit  tremendously from charitable gift planning. Our knowledgeable staff can work with you and your client to help choose the best method of giving for them. We also offer tools and calculators you can use when speaking with your client. 

My client is considering starting (or closing) a private foundation.

Many people find the administrative and tax burdens of a private foundation to be overly cumbersome. By converting their private foundation to a donor-advised fund at the community foundation, your client can retain their grant-making involvement while transferring the administrative responsibilities to the foundation's knowledgeable staff. We take care of all the paperwork, gift acknowledgment and tax reporting so your client can focus on giving back to the causes they care about. In addition, donor-advised funds do not have any mandatory payouts, so your client can take their time deciding grants each year.

We offer an easy-to-read chart comparing the differences between a private foundation and a donor-advised fund. As always, one of our staff members is available to talk to you and your client, or your client's foundation administrator, to discuss which option would be most advantageous.