The Goulston & Storrs Charitable Planning group advises charitable donors on the strategy and implementation of their giving programs. From negotiating major gifts with charitable institutions to planning for the maximization of tax benefits, we assist clients with all areas related to their charitable giving goals.
Our attorneys have substantial experience advising donors who want to make charitable gifts that involve closely-held business interests and investments. Depending on the client’s goals, the success of a charitable gift can often lead to the creation of new charitable organizations, such as public charities, private foundations, and supporting organizations, or in the alternative, donor-advised funds. In these cases, we assist clients in selecting the right tax and governance structure for their organizations.
Additionally, we counsel clients on the benefits of creating and funding tax-advantaged vehicles that benefit both individuals (including the donor and the donor’s family members) and charities, such as charitable remainder trusts and charitable lead trusts.
We also serve as counsel to not-for-profit institutions in the health care, social services, arts and educational areas, where we routinely provide advice to the legal, development and planned giving staff on organizational, tax and regulatory issues.
Representative Projects and Transactions
- Estate plans involving major charitable dispositions.
- Creation of family charitable foundations and guidance to clients regarding the formulation and implementation of strategic grant-making programs, including international grants, matching grant programs and policy-driven grants with associated lobbying activities.
- Prior to the sale of a closely-held company, negotiations with potential charitable recipients of interests in the company and the design of strategic amendments to company’s governing instruments to enhance the feasibility of the charitable gifts and their valuation.
- Negotiation of large grants to create clinical and research institutes housed at various teaching hospitals.
- Review of alternatives to a private foundation that may provide preferred mission-driven or tax results, including the creation of operating foundations and client-controlled public charities.
- Major foreign-based religious organization establishing an international research and publishing entity, including tax-exemption, corporate and real estate transactions.
- Creation of scholarship organizations, public charities and private operating foundations that provide unique fellowship grants, including mid-career training for workers in building and construction trades, and foundations making “random acts of kindness” grants to individuals.
- Ongoing advisor to Oxfam America, YouthBuild USA and dozens of large institutions and smaller organizations with respect to 501(c)(3) compliance, design of endowment and bequest programs, and negotiation of split-interest gifts and other planned giving vehicles.