Managing Family and Corporate Philanthropy

5T Wealth Management, LLC (5T Wealth) now offers an easy and flexible approach to managing private foundations to be highly effective and fully government compliant. 5T Wealth can reduce the burdens of ongoing administration, compliance, and record keeping, along with offering our professional investment management services.

Our services are appropriate for families, individuals, and companies that have determined that philanthropy is a significant part of their wealth management strategy. Knowing that donors and trustees desire to control grant making and want to be active in establishing charitable goals, as well as establishing a permanent legacy for future generations, 5T Wealth Management, along with our custodian Fidelity Investments, can help with fiduciary oversight and third-party administration, as well as combining other charitable vehicles such as Charitable Remainder Trusts, Pooled Income Funds, or Lead Trusts into a consolidated giving plan.

These services support investment management, administration and recordkeeping. We will develop an investment policy and asset allocation strategies. Asset transfers and contributions will be made more tax efficient, and we will establish and maintain minimum return objectives on those assets. Trustees and board members will receive quarterly reports. Each foundation will receive all financial statements and expense processing records in an efficient manner. We will comply with all regulatory agencies and California Family Code Section 4941. Additionally, administrative duties such as grant-making responsibilities, mandatory distribution requirements and trustee services can be handled by our Private Foundation Services Team.

There is a simple process for setting up a new private foundation or transfer of assets from an existing foundation, providing local, individualized investment management and advisory services through 5T Wealth Management.

Flexible management of a foundation's assets allows us to create strategies designed to meet their minimum annual distribution requirements. It also allows us to provide a periodic review of the investment policies to assure compliance with the donor's and trustees' objectives. Furthermore, the administrative burdens of accounting, recordkeeping, grant processing, expenses and coordination for tax preparation and filing can be reduced.

Our tax and compliance support will assist foundations with many tasks. These include tracking of annual minimum distribution requirements, verification of grant recipient's charitable status, coordination of form 990-PF preparation, financial reporting and tax payments and all required state filings.

Finally our automated online administration and access allows families, trustees, and their advisors to track and approve foundation's expenses, authorize grants and view all balances and accounting records, with educational resources and tools provided online and updated regularly.

For further information, please contact Paul Krsek at (707) 224-1340 or paul@5twealth.com.

"He who wishes to secure the good of others has already secured his own." -Confucius