Private Family Foundation Partnerships

Private family foundations often face growing complexity — from payout requirements to grant evaluation and legacy planning. We serve as an extension of your team, helping you navigate these responsibilities with clarity and confidence.

Simplify Operations

Companion Funds

Private foundations are required to pay out 5% annually, but occasionally, foundations may need more time to decide which nonprofits to support. Creating a donor-advised fund at Akron Community Foundation with some or all of your required 5% payout allows you to meet the federal requirement, while also giving you time to utilize the Center's services to make the best grantmaking decisions for your family and foundation.

Administrative Support

We assist with grant processing, documentation and coordination so you can spend less time managing logistics and more time focusing on impact.

Improve Decision-Making

Connection to the Community

As experts on the local nonprofit community, we can work with your foundation to identify grant recipients that align with your family's charitable vision and values. We can also connect you to these organizations and facilitate site visits to further aid your grantmaking decisions.

Co-Investment Opportunities

Akron Community Foundation has a dedicated team that recommends funding to our board of directors during our quarterly grantmaking cycles. As you may imagine, the needs in our community far outweigh our available funding resources, so we partner with our donor-advised fundholders and interested private family foundations to share our vetted grant requests and offer the opportunity to co-invest with us.

Plan for the Future

Continuation Planning

Our staff can assist your family with succession and strategic planning, including how future generations should carry on your charitable legacy and who you would like to handle that important task.

Conversion

By dissolving your foundation and transferring your assets to a donor-advised fund at Akron Community Foundation, you can continue to give back to the causes you love while simplifying the work it takes to do so. Subsequent gifts to donor-advised funds are deductible to the fullest extent of the law, and there are no annual payout requirements, allowing you to give to the causes you care about on your family's schedule. In some cases, you can even keep your trusted financial advisors involved with the investment management.