A private foundation is more than a tax strategy — it's a living document of a family's values. We are honored to support the families and foundations below, and to help new families create lasting charitable missions of their own.
These families trusted us to help structure their legacy. The results speak for themselves.
Established in honor of the late Dr. Brian D. McCartney, this 501(c)(3) private foundation serves as a beacon for the Deaf, Hard-of-Hearing, and special needs communities throughout the region. The foundation reflects the family's belief that a life lived in service deserves to be perpetuated — not merely remembered.
To ensure that a legacy of compassion is translated into tangible support — from ASL mentorship to job placement services — for individuals who too often go without.
The McCartney Foundation partners with organizations uniquely equipped to deliver that mission on the ground:
Through these partnerships, the foundation ensures that Dr. McCartney's compassion is not simply a tribute — it is a permanent engine of change for communities that need it most.
When we work with families to establish a private foundation, the goal is often twofold: perpetuating family values and optimizing the tax landscape. Here is what the McCartney Foundation strategy illustrates.
Unlike individuals, a private foundation pays a flat 1.39% excise tax on net investment income — not ordinary income tax rates. This allows the principal to compound far more efficiently, leaving significantly more capital available for charitable grants over time.
Assets transferred into the foundation are removed from the taxable estate. For families subject to federal estate taxes, this can preserve up to 40 cents of every dollar — directing that wealth toward a chosen mission rather than to the IRS.
To maintain its tax-exempt status, a private foundation distributes approximately 5% of its average investment assets annually. This creates a reliable, perpetual stream of support for beneficiaries — deaf summer camps, educational programs, and more — year after year, in perpetuity.
A private foundation isn't just a tax shelter — it's a living document. The McCartney Foundation is a perfect example of how strategic legal structuring can ensure a family's name is synonymous with service for generations to come.
From structuring the initial 501(c)(3) to ongoing compliance, we guide families through every stage of private foundation planning.
We draft the foundation's articles of incorporation, bylaws, and conflict-of-interest policies, then prepare and file the IRS Form 1023 application for tax-exempt status — the most complex step in the process.
We coordinate your foundation strategy with your broader estate plan — ensuring assets transfer in the most tax-efficient manner and that your overall estate tax exposure is minimized at every step.
Private foundations face strict self-dealing rules, minimum distribution requirements, and annual Form 990-PF filing obligations. We keep your foundation in good standing and your family board informed.
We help families design a grant-making policy that reflects their values and satisfies IRS requirements — including expenditure responsibility procedures for grants to non-public charities and international organizations.
Private foundations are not only for dynastic wealth. Many families with estates of $1 million or more find that a foundation is the most meaningful and tax-efficient way to give — particularly when they want to maintain family control over charitable decisions across generations.
Common motivations include: honoring a family member who has passed, establishing a permanent scholarship fund, supporting a cause that defined a career, or giving children and grandchildren a shared philanthropic mission.
We work with families at every stage — from initial feasibility analysis through decades of ongoing administration. If you have ever wondered whether a foundation belongs in your estate plan, the conversation starts with a free consultation.
Schedule a free consultation. We'll walk you through the structure, the tax implications, and whether a private foundation — or a donor-advised fund — is the better fit for your family's goals.