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Topic: General

Donor-advised funds are a powerful philanthropic vehicle to address both urgent and long-term community needs. These funds, which can only be used for philanthropic purposes, allow donors to make a charitable contribution, receive an immediate tax benefit and recommend grants over time.

The KDK-Harman Foundation today announced the transfer of its $25 million endowment into the newly established donor advised fund, entitled the Harman-Mayes-Sooch Family Fund, at the Austin Community Foundation. After 13 years of service to and investment in the Central Texas community as a private family foundation, the founder and board decided, for a variety of reasons, to partner with ACF.