Legal Page Charitable Foundation USA is a tax-exempt public charity. This website introduces the viewer to its Philanthropy Program (the "Program"). The Program is shared by multiple domestic United States public charities and donors (as defined hereinafter).
Wise & Scott, LLC, an independent certified public accounting firm, provides services to Charitable Foundation USA.
Charitable Foundation USA and Wise & Scott, LLC are hereinafter collectively referred to as the "Manager".1 Who may participate? The donor and/or his or her spouse must be a citizen of the United States (the Donor). Recipients of grants must be domestic public charities recognized by the Internal Revenue Service as "public charities," sometimes referred to herein as "Grantees." Governing Documents - Maximum Flexibility Each gift is governed exclusively by an outright gift, endowment gift, donor advised fund, charitable remainder trust, charitable lead trust, gift annuity, pooled income fund, life estate, charitable living trust or other gift-agreement (an "Agreement"). Except for charitable gift annuities and pooled income funds, an Agreement is exclusively between the Donor and Charitable Foundation USA for the benefit of the public charities specified by the Donor (Charitable Beneficiaries). The Program's standard Agreements have been drafted with the intention of maximizing philanthropic flexibility to the greatest extent possible as permitted by the Internal Revenue Code and the rules and regulations of the Internal Revenue Service. Accordingly, another United States domestic public charity may be substituted for Charitable Foundation USA in most cases. The Program does not intend to lock-in the Donor or the Charitable Beneficiaries.
Gifts made by Donors via Charitable Foundation USA are not solicited by Charitable Foundation USA, the Charitable Beneficiaries or the Manager. Donors voluntarily make gifts on their own initiative and for their own philanthropic purposes. Each gift transaction is governed solely by the Agreement the Donor signs at the time of making a gift. Gifts become irrevocable (i.e., "you can't get your money back") only at the time assets are transferred by the Donor to Charitable Foundation USA. Charitable Foundation USA Charitable Foundation USA is organized and operated exclusively for charitable purposes as set forth in Section 501(c)(3) of the Internal Revenue Code of 1986. It is authorized to negotiate and receive contributions, gifts, bequests, and devises of real and personal property, outright or in trust, to be paid to or held in trust for itself or other organizations which are described in Section 501(c)(3), and to serve as trustee of any such trust. Charitable Foundation USA is also authorized to hold, administer, purchase, lease, sell, manage, convey, invest, pay, mortgage, exchange and receive property, real and personal, on its own behalf or as trustee or custodian.
The Internal Revenue Service has determined that Charitable Foundation USA is a tax-exempt organization described in Section 501(c)(3), and that it is a publicly supported organization – not a private foundation - under Sections 509(a) and 170(b)(1)(A)(vi). Donors may deduct contributions to Charitable Foundation USA as provided in Section 170. Bequests, legacies, devises, transfers, or other gifts to or for the use of Charitable Foundation USA are deductible for federal estate and gift tax purposes to the extent permitted under Sections 2055, 2106, and 2522.
Charitable Foundation USA is not a "community foundation" limited by Regulations 1.170A-9(e)(10) – (14). These regulations prohibit a "community foundation" from accepting materially restricted gifts. The board of directors of a "community foundation" must have discretion about how they use gifts. Charitable Foundation USA on the other hand, is legally obligated to follow the Donor's restriction, if any. Privacy Policy The Manager keeps information Donors provide through charitable gift applications and other forms and Agreements, including information about grant-making confidential. However, for donor recognition purposes, the normal practice of the Manager is to identify the source of grants to the Grantees receiving them, except where the Donor or his or her designated steward ("Steward") has requested anonymity. "Stewards"and "Professionals" who may be appointed by the Manager at the Donor's suggestion may have access to confidential information appropriate for their respective roles on behalf of the Donor. Web Site Terms of Use The information on this site is offered "AS IS" for the use and convenience of visitors without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, or non-infringement. Information on this website may contain inaccuracies or errors. Information may be changed or updated without notice. Neither the Manager nor the Charitable Beneficiaries have any obligation to update information presented on this website; therefore, information contained herein may be out of date at any given time. Changes, revisions or enhancements to charitable products, services, account or fund information described in this site may occur at any time without notice. Neither the Manager nor the Charitable Beneficiaries is rendering any legal or professional service by placing information on this web site. All viewers of the information on this website regarding charitable products, services, account and fund information should contact the Manager at its headquarters during normal business hours before making any decisions based on information found in this website. This website is not designed to advance, solicit or offer any particular charitable product or service. Any such reference to charitable products or services is purely for illustrative and informational purposes. Unauthorized copying, reproduction, transmitting, duplication, or use of the information on this website is prohibited. 1. Charitable Foundation USA c/o Wise & Scott, LLC, Certified Public Accountants, 2333 Grissom Drive, Suite 106, Saint Louis, Missouri 63146-3322. Tel. 314-779-1898. |