Named Funds are established and named by a donor, family or an institution. With a gift of at least $5,000, you can establish a fund in your name creating a personal legacy of giving. You may give immediately or through your will or other estate planning strategy. If you endow your gift, it becomes a permanent community funding resource. There are currently two types of Named Funds:
Friends of Funds:
Direct donations to foreign charities are not tax deductible. But through TPF’s Friends of Funds they are. TPF works with Turkish universities and NGOs to create projects that an individual can fund.
Donor Advised Funds:
We call this option smarter than Bill Gates. Sure, the founder of Microsoft started his own foundation. But he also spends a tremendous amount of those funds on administrative and legal costs. Donor Advised Funds allows you – or you and your family to pool resources into an endowment. This endowment can be general or devoted to one of TPF’s issue areas: education, gender equality, development and arts and culture. It is a no-hassle option for those who eager to get involved in philanthropy but don’t want the logistical burden. An added benefit is tax deductions, which TPF helps facilitate.
Call TPF for more information: 646-530-8988.
If you have a named fund at TPF, please log-in here.