Much like with a private foundations, this enables donors with substantial resources to have greater legal control over their funds than they have with a regular donor-advised fund. While supporting organizations and private foundations have similarities, a supporting organization does not have the costs or administrative and reporting requirements associated with a private foundation. Supporting organizations are appealing to donors who wish to have greater control over their grantmaking but do not want to take on the burdens of operating a separate private foundation. MCF prepares annual tax returns and oversees audits of supporting organizations. Donors can also benefit from the expertise of MCF's program staff in assessing community needs and identifying grant recipients.
Donors can also choose to remain anonymous.
In addition, the board of the supporting organization may exercise control over the investment of assets. Acrobat Reader is required to read this file. Click on the icon to get a free copy.