A blog feature from Crystal Cove Alliance (click here to visit CCA's website):

Last week, more than 100 Santa Ana kids got to enjoy five fun-filled days in the sun at Crystal Cove State Park as they took part in Camp Cove! The campers, who were all between the ages of 6 to 17, came from the Santa Ana Police Athletics and Activities League (SAPAAL), a community organization that focuses on building a bond between kids and cops through education, fitness, and activities.  Their week at Camp Cove was organized by the Crystal Cove State Park Lifeguard and Interpretive staff, with help from Crystal Cove Alliance (CCA).

Before coming to the State Park, the campers began exploring the Park’s unique ecosystems on shore and at sea as they took part in two boat programs with CCA and then spent an afternoon videoconferencing with Crystal Cove’s PORTS interpreter.
“Being on the boat was so much fun!” says Zeilyn, age 11.  “I had seen dolphins in aquariums but this was my first time seeing dolphins and their calves in their natural habitat. It was awesome!”

During their week at Crystal Cove, campers learned about beach safety with the Crystal Cove Lifeguards as they enjoyed the waves and played games on the beach. State Park Interpreters led them on an interpretive hike into Crystal Cove’s backcountry, and campers were able to take part in ongoing scientific research and explore the Historic District’s long tradition of plein air art with Crystal Cove Alliance.  Speakers also introduced campers to the possibilities of State Park careers.

“Camp Cove this year has been incredible,” says Officer Kenney Aguilar, the director of the Santa Ana PAAL program. “With the new joined partnership with Crystal Cove Alliance, these kids not only get to have fun on the beach with the lifeguards, but are able to experience the history of Crystal Cove’s Historic District and learn about all the science and research CCA does at the State Park.”

Although the participants live just twelve miles from the ocean in inner city Santa Ana, some had never been to the coast before.  Their experience was made possible through the generous support of the California State Park Foundation (which funded transportation to and from the Cove), Laguna Beach Community Foundation fund holders including Donnie Crevier and Betsy and Gary Jenkins, and Crystal Cove’s local community, which came together to support this unique program through an online fundraiser.
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We put together a little video to thank you for supporting Camp Cove!

Laguna Beach Community Foundation is once again sponsoring a financial and estate planning program put on by Financial Empowerment and Estate Literacy Inc. The mission of FEEL, Inc., a nonprofit organization, is to provide the resources people need to make confident financial, estate and charitable decisions. They provide nationally awarded
​8-week long workshops on the business of money and the legal requirements for setting up an estate. The next series begins in September. All presentations are conducted by knowledgable local attorneys and wealth advisors. No sales or solicitations will be made. 

There are a variety of charitable giving vehicles that can support giving during your lifetime and beyond. Today, we're going to look at some differences between a family foundation and a donor advised fund.

Donor Advised Fund

Definition:
A donor advised fund is a charitable giving vehicle administered by a public charity that allows donor to make a charitable contribution, receive an immediate tax deduction and make grants to qualified charitable organizations at their convenience.

Benefits:

• The minimum contribution for a donor advised fund can be quite low; at Laguna Beach Community Foundation it is $5,000, significantly less than a private foundation.
• The administrative and legal requirements of a donor advised fund are managed by the administering public charity. With LBCF, a fund can be opened in 24-48 hours and requires very little of the donor with regard to maintenance.
• Helps to streamline the giving process by eliminating the need to keep track of multiple gift receipts. Grants may be issued to a qualified charitable organization in a matter of minutes.
• Potential to grow your charitable contribution tax-free through the investment of your funds. 
• If you prefer, you can make gifts anonymously. 
• Click here for the tax benefits of a donor advised fund.

Things to Keep in Mind:

• The administering public charity has ultimate control over the assets contributed. You recommend where the grants get distributed and the administering public charity is responsible for confirming qualified charitable status and that the funds are to be used for charitable purposes only.
• Grants cannot be made to satisfy preexisting bound pledges.

​Family (Private) Foundation

Definition: 
A private foundation is a nonprofit entity, which is usually created via a single primary irrevocable donation from an individual or a business and whose funds and programs are managed by its own trustees or directors. The board is responsible for receiving charitable contributions, managing and responsibly investing those charitable assets and making grants to qualified charitable organizations.

Benefits:

• Facilitate and organize charitable giving while allowing you to build a legacy that can last beyond your lifetime through the assistance of family members or other appointed  trustees and employees.
• Potential to grow charitable contributions through successful investment management of the foundation.
• Leniency in grant making as you are able to support charitable programs of individuals and other entities subject to strict IRS requirements.

Things to Keep in Mind:

• Considering the administrative requirements and potential legal and accounting fees, a substantial minimum contribution is generally required. Many investment advisors recommend a fund opening contribution of at least $25 million to justify the expenses and time required to open a private foundation.
• You are unable to give anonymously.
• Annual filing requirements must be kept up to date with the IRS.
• A 5% distribution is required annually.
• Investment income is subject to 1% to 2% excise tax.
• Click here for a comparison of the tax implications compared to a donor advised fund.

Summary:
Private foundations are typically utilized by individuals and families that are looking to fully immerse themselves in the philanthropic process. This includes running an organization, ensuring proper financial oversight, and actively taking part in an annual grant-making process. Administrative burdens such as tax filing and record-keeping fall on the private foundation. A donor advised fund still allows for individuals to build a strategic philanthropic giving plan, but puts administrative tasks into the hands of the administering public charity. This is a good option for people looking to organize their charitable giving without the administrative burden of a private foundation. If you're interested in opening a low cost, professional donor advised fund, click here for more about how you can partner with Laguna Beach Community Foundation.