A supporting foundation is an independent, nonprofit corporation with its own identity and corporate structure that works together with The Associated. While it qualifies as a public charity with all attendant tax benefits, it has many of the advantages of a private foundation. Establishing a Supporting Foundation at The Associated requires a minimum donation of $1 million.
You may appoint as many directors to the Foundation's Board of Directors as you choose, from your family, circle of friends or trusted colleagues. The Associated also appoints directors, constituting a simple majority as required by law. The Board conducts the Foundation's business, including making investment decisions and charitable distributions.
If you have any questions about establishing a supporting foundation with The Associated, please contact us. We would be happy to assist you and answer your questions.