Attorneys & Professionals
Victor Ferguson, a partner in the Columbus office and member of the probate and tax group, was quoted throughout a Columbus C.E.O. story about the choice wealthy families have between establishing private foundations or donor-advised funds held within a community foundation.
The story states:
“‘Because private foundations are so complicated, we always discuss donor-advised funds as an alternative. They’ve become much more prevalent in the last 15 years or so, because of the ease of set up and administration. The tax advantages are better, too,’ says Victor Ferguson, partner at Vorys, Sater, Seymour and Pease.”
The story also states:
"Private foundations offer greater transparency than donor-advised funds. ‘They’re required to list all distributions and contributors who gave more than $5,000 with the amount they gave,’ Ferguson says. ‘Donor-advised funds report the greater of contributions totaling $5,000 or 2 percent of donations to the public charity. Because they’re part of a larger entity, that’s a much bigger number than $5,000. It tends to keep identities confidential and that’s important to some people.”’
To read the entire story, visit the Columbus C.E.O. website.