Purposeful and effective philanthropy begins with understanding why you give, identifying the causes that matter to you most and determining the kind of legacy you want to leave for the next generation. Your Financial Advisor, along with other specialists, can help you define and execute your vision.
The Value of a Mission Statement
Whether for an individual or a family foundation, a mission statement can clearly set out the donor's vision and bring focus to grant making.
Strategies for Giving
There are many different approaches to giving — direct gifts, gifts involving life insurance, tangible-asset gifts, split interest vehicles, charitable gift annuities, charitable lead trusts, pooled-income funds, private foundations — each of which meets different needs.
Virtue of Donor-Advised Funds
As an alternative to direct giving or creating a foundation, consider a donor-advised fund as a way of systematizing your charitable giving. It can offer administrative convenience, cost savings, opportunities for family involvement and potential tax advantages.
Help Managing Your Foundation
Morgan Stanley can refer you to Foundation Source, a third-party provider that offers a sophisticated, turnkey, Web based, back-office solution for family and corporate foundations. You and your family also will have access to advisory services that can help maximize the impact of your philanthropy through Morgan Stanley.
Morgan Stanley Smith Barney LLC ("Morgan Stanley"), its affiliates and Morgan Stanley Financial Advisors do not provide tax or legal advice. This material was not intended or written to be used, and it cannot be used, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.