Charitable giving is simple and effective with a donor fund at Parasol. We offer a variety of methods for you to contribute to the causes you care about - here in the Tahoe region, across the nation and around the world. We are a donor-centered organization that provides the highest level of service to each and every donor. Our experienced staff can assist you in creating positive impact with your gifts today, no matter the size, while our investment strategies can help you to grow your contributed assets to continue to meet the needs of tomorrow.
Below, learn how Parasol can help you make a difference.
The benefits of establishing a fund at Parasol are many. Here's just a few:
Simple & Flexible
Parasol offers a variety of funds to help you realize your charitable giving goals.
Donor Advised Funds
These popular funds provide a convenient and flexible method for individuals, families, groups and businesses who want to be personally involved with their giving. You make contributions to your fund and receive the tax benefit at the time of the deposit. While Parasol invests the charitable assets for growth, you may recommend grants over time to the specific causes and organizations you care about most. Donor advised funds are a positive alternative to a private foundation.
Committee Advised Funds
A committee advised fund is created by a group of people who are partnering with Parasol to realize shared charitable goals. A committee advised fund is subject to the same guidelines as donor advised funds, however, grant recommendation decisions are mutually decided with grant recommendations being provided to Parasol by the Committee Chair.
When faced with a personal loss, family and friends often want a thoughtful way of honoring a loved one. A memorial fund turns memorial gifts into a lasting legacy in your loved one's name. Once the fund is established, you have up to six months from the date of the first gift to reach the minimum gift requirement. For amounts less than the minimum, Parasol staff can work with you to identify an appropriate nonprofit to receive memorial fund contributions directly.
Many donors choose to give the gift of education. Through a scholarship fund you can benefit student education or support a specific institution. The donor may determine the required criteria for scholarships awarded from the fund.
Donors who wish to support a specific organization(s) can establish a designated fund. These funds may support the organization(s) for a set period of time or in perpetuity. If the original organization ceases to exist, becomes obsolete or is unable to perform according to their charitable purpose, the Parasol Board of Directors is able to redirect the funds to an organization providing similar services without additional administrative costs.
Field of Interest Funds
These funds are established to support particular areas of interest, specific program initiatives, causes or geographic areas. These funds are restricted to a defined area of interest, while remaining somewhat flexible to meet changing situations.
These funds provide Parasol's Board of Directors with the ability to direct funds to support the Tahoe region's greatest and most important needs - benefiting Tahoe now and for generations to come.
Legacy funds may be established through your estate plan. These funds are a way for you to support your favorite charities or causes forever, creating a lasting legacy. Parasol is committed to preserving your charitable intentions along with your legacy.
ALTERNATIVE FUND OPTIONS
Individually Managed Funds
An individually managed fund allows you to pursue your philanthropic goals while continuing to receive investment management expertise from your existing professional advisors. Once approved by Parasol, your advisor can develop a customized portfolio to meet the proper investment preferences and time horizons, with the goal of growing the assets available for your philanthropy. The result is a highly personalized and rewarding philanthropic experience for both your advisor and you. You may establish an individually managed fund with a minimum gift of $ 500,000.
As an alternative to a donor fund or private foundation, you may establish a supporting organization at a fraction of the cost and responsibility. A supporting organization has its own board and grantmaking identity, allowing you to stay personally involved in your charitable giving. A supporting organization enjoys public charity status along with Parasol's donor services support.
There is no better way to power your philanthropy and preserve your charitable giving legacy than endowing your fund at Parasol.
Endowing Your Fund
Albert Einstein once called compound interest "the most powerful force in the universe." By endowing your fund at Parasol you tap that power. Through endowment you insure lasting impact by preserving your principle gift(s) and making grants from income. Your endowed fund is invested in our Long Term Horizon earning returns that allow you to provide for charitable needs in perpetuity through continued growth. Over time, the amount granted exceeds the original contribution(s) to the fund and all the while your principle remains intact and grows over time.
And Parasol will always be here to protect and preserve your charitable intentions and legacy - forever.
To make your charitable giving convenient, Parasol has the ability to accept a variety gifts. Your gifts today will support your current charitable giving goals. Additionally, you can take advantage of several estate planning strategies designed to help you make charitable gifts while enjoying tax benefits, preserving economic security for yourself and your loved ones and creating a legacy of giving.
Cash gifts - checks, credit cards, or actual cash - are the easiest way to give. Because Parasol is a 501(C)3 public charity, contributions qualify for the maximum deductibility for income, gift, and estate tax purposes.
Marketable or Closely Held Securities
Gifts of securities also provide tax advantages. Stock, bonds, or mutual funds may be used to establish a fund or add to an existing fund. The added benefit of giving appreciated securities held for more than one year is the avoidance of the capital gains tax on the appreciated portion of the gift. Gifts of closely held stock enjoy the same tax benefits as publically traded stock.
Real Estate & Other Complex Gifts
Money is not the only gift. Real estate, mineral & timber rights, business interests, and tangible personal property all can be used to establish your charitable fund while providing you with tax benefits. Due to the complexity of these items, these types of gifts are subject to review and approval by the Parasol Board of Directors.
Transfers from an Existing Private Foundation
Administering a private foundation under IRS rules can be burdensome and expensive. It is easy and convenient to consolidate a private foundation into a Donor Advised Fund or Supporting Organization at Parasol. Advantages include: anonymity, naming of successor advisors, administrative cost savings and preferred charitable deductibility of additional gifts.
Including a charitable bequest in your will or trust is a simple way to make a lasting gift. You may use the gift to establish a fund or add to an existing fund. Bequests to a fund at Parasol allow your charitable intentions to be carried out in perpetuity and can significantly reduce taxes on your estate.
A retirement plan, such as a profit sharing plan, 401(k), Keogh, 403(b) or IRA, is one of the best types of assets to transfer to a charity. Because it produces taxable income, an heir will pay income tax on disbursements. If you wish to make a charitable bequest, it is usually better to transfer these taxable assets to a tax-exempt charity, such as Parasol, and to transfer assets not subject to income tax to your heirs.
Life insurance can be used to create a charitable gift in one of two ways. First, you can transfer ownership of a policy to Parasol and receive a current income tax deduction in the year the transfer is made. Second, while retaining ownership of a policy, you can name Parasol as the beneficiary of the policy.
Charitable Remainder Trust
A Charitable Remainder Trust is a type of deferred gift created so that you or another beneficiary you designate receives a lifetime income. At the termination of the trust, the assets are transferred to Parasol to support charitable causes.
Charitable Lead Trust
A Charitable Lead Trust provides income to Parasol for a set number of years to support charitable causes. Then, at the end of that period, the remaining balance is distributed to the named beneficiaries of the trust, often with significant tax savings.
Charitable Gift Annuity
Setting up a Charitable Gift Annuity at Parasol allows you to receive a guaranteed income for life and an immediate tax deduction, while leaving a charitable legacy for the community.
Tahoe Legacy Society
This honorary society distinguishes those who intend to leave a legacy to their community through a charitable bequest or other planned gift to the Parasol Tahoe Community Foundation. Members are recognized as special partners in philanthropy and acknowledged for investing in the positive future of the Tahoe region.
Information provided on this website is for educational purposes only. The Parasol Tahoe Community Foundation does not engage in rendering legal, financial or tax advice. Please contact your professional advisor(s) regarding your personal situation.
Establishing your personal donor fund at Parasol is easy. Here’s how:
Partnering to Serve Client Needs
You work hard to provide your clients with the best service possible. And you know that charitable giving can be an important part of a client's financial and tax planning - whether they are selling a business or stock options, planning their estates, managing an inheritance or maximizing their yearly tax benefits. So let Parasol help you! We can be your professional resource when it comes to facilitating your clients charitable giving goals in the most tax-advantaged and cost effective manner possible. We provide a variety of methods for you to assist your clients and we deliver our services with upmost professionalism, including respect for your confidential client relationships.
Parasol is a public charity dedicated to effective philanthropy and ensuring the intention of each donor gift. As a community foundation, we are here for today and will exist tomorrow - in perpetuity. From simple donor advised funds to setting up a supporting organization, Parasol is here to assist you.
Since our inception in 1996, we have built a strong track record for quality services, expert stewardship and committed leadership. We invite you to get to know us, gain confidence in our work, and partner with us in assisting your clients in making a world of difference.
Our professional staff is available to speak with you, members of your firm, your organization or your clients about charitable giving options, creating a legacy through planned giving, emerging community issues, as well as building endowments for non-profit organizations. Please contact Claudia Andersen, CEO, at 775-298-0187 to set up a time that is convenient for you.
Your unrestricted gift to Parasol’s General Fund supports our successful community programs – including operating the Donald W. Reynolds Community Non-Profit Center, managing our award-winning AmeriCorps Program and funding quality non-profit programs through our Community Fund. Please see our Donate Now page to make your gift via credit card or for more information on other ways to give directly to Parasol.
You may choose to support Parasol’s operating endowment, the Carla Hanson Memorial Endowment Fund, and provide support for our community programs both now and into the future. Please see our Donate Now page to make your gift via credit card or for more information on ways to give to Parasol’s endowment.
Signage, both inside the Donald W. Reynolds Community Non-Profit Center and outside, surrounded by the beauty of the Carla Hanson Memorial Garden, provides you with a method of memorializing your gift to Parasol’s endowment in perpetuity. Please see below for currently available naming opportunities. Also, for more information regarding naming opportunities, please contact Claudia Andersen, our CEO, at 775-298-0187.
Carla Hanson Memorial Garden Naming Opportunities
Granite Boulder w/Bronze Plaque: with your gift of $ 50,000
Etched Glass Block in lighted wall (large): with your gift of $ 50,000
Etched Glass Block in lighted wall (small): with your gift of $ 25,000
Seat Wall Bronze Plaque: with your gift of $ 5,000
Donald W. Reynolds Community Non-Profit Center Naming Opportunities
Meeting Room 106 (lower level): with your gift of $ 250,000
Meeting Room 204 (upper level): with your gift of $ 250,000
For more information on our programs, our endowment, naming opportunities or ways to support Parasol directly, please contact Claudia Andersen, our CEO, at 775-298-0187.