The Adirondack Trust Company Community Fund, can serve as a sophisticated and powerful planning vehicle for financial professionals to help clients achieve their charitable giving goals in the most tax-advantaged way.
With a framework already in place, the ATC Community Fund provides flexible options for your clients, without the time and expense needed to create new giving vehicles from the ground up.
Clients who wish to retain the ability to direct gifts to charities they favor can open a Donor Advised Fund(DAF) that allows:
- Donations of cash or appreciated securities
- Reasonable initial contribution amounts ($5,000) with lower subsequent contribution amounts ($1,000)
- The ability to name additional individuals to recommend charitable grants from the DAF
- Contributions from estate and trust bequests or beneficiary designation (IRAs, Qualified Retirement Plans, life insurance and annuities)
- Donor, or whoever they appoint, to recommend grants to be made to qualifying charities over time
In addition to the Donor Advised Funds, the Adirondack Trust Company Community Fund also maintains a General Fund to support charitable organizations in Saratoga, Warren and Washington Counties and the surrounding region.
- Tax-deductible donations to the General Fund can be made for any amount
- Assurance that contributions will be used to support deserving local charities as directed by the Advisory Committee
- The same professional management and record keeping as the Donor Advised Funds
We look forward to the opportunity to work with you in providing a valuable service for your clients.