A flexible solution for charitable impact
An SO is a qualified, tax-exempt public charity that allows you, your family, or your business to manage grantmaking to charitable organizations. Following the charitable purposes the SO board establishes, you receive administrative, grants management, and investment management support from NCF.
We provide oversight, advisement, and policy development, as well as board meeting supervision and agenda creation.
We provide grant administration, oversight on operational guidelines, and monitoring of IRS provisions.
We provide bookkeeping, financial reporting, and IRS/State compliance (services are optional and vary based upon SO needs/structure).
Reasons to consider an SO
Unlike a Giving Fund, an SO can have full-time employees, cover operating expenses, provide benefits (such as a health plan and retirement plan), and provide for family involvement and succession. However, many people combine the benefits of both the SO and Giving Fund to further their giving goals and objectives.
Have greater flexibility in grantmaking and investment management than what a Giving Fund alone provides.
Contribute non-cash assets that would not receive a fair-market-value (FMV) deduction if given to a private foundation.
Hire staff and pay operating expenses (due diligence costs, mission trips, and philanthropic counsel).
Expand your giving beyond direct-to-charity cash and checks.
Have greater tax benefits than those found in a private foundation.
An entrepreneur inspires a movement of change
Movement Mortgage has given away almost $26 million to charity through the Movement Foundation, a Supporting Organization through NCF. Since its founding in 2012, the foundation has spurred innovative charitable initiatives from the Movement Center and Movement School in Charlotte, North Carolina to the development of a commercial farm to empower growers in Uganda, East Africa.