Fiscal Sponsorship through United Charitable: Meet I Vote For

Operating out of Tysons, Virginia, United Charitable is a registered 501(c)(3) non-profit public organization that assists clients who are seeking charitable strategies to carry out philanthropic initiatives. United Charitable offers Fiscal Sponsorship as a way for programs to concentrate on their mission while United Charitable handles the administration and compliance.

I VOTE FOR, is a fiscally sponsored program of United Charitable, that strives to maximize voter turnout in the 2020 election by building a network that harnesses the collective power of women. Recently established, this program is founded by a group of dedicated and motivated women from across the nation doing their part to get women, no matter what party, to vote!

I Vote For is a female-led non-partisan voter initiative formed to meet the urgency of this moment – by building a collective network of individuals and partner organizations to harness the power of women through empowerment, relational organizing, and storytelling. Their team spans coast to coast, including members based in Indiana, Minnesota, and Texas.

While their focus is currently on maximizing voter turnout for the 2020 general election cycle, they're laying the foundation for lasting impact by training women to share their story and use relational organizing tactics to expand their influence within their networks.

Sharing Personal and Hopeful Messages for the Future Now

A 501(c)(3) nonprofit organization, United Charitable works with wealth advisors, donors, and philanthropists to increase the impact of a donor’s giving through donor-advised funds. Also, United Charitable offers fiscally sponsored programs, which handle the responsibility of the complex program administration process for nonprofits. DearTomorrow is just one not-for-profit program under fiscal sponsorship with United Charitable.

DearTomorrow was established by Jill Kubit and Trisha Shrum in 2015 as a digital and archive system that individuals can use to share personal and hopeful messages about climate change.

Limited communication about climate change has caused inaction and failed to motivate the interest of the public about the issue. With DearTomorrow, people can connect the issue of climate change with their identities and values, allowing them to share their thoughts across different socio-political boundaries such as legacy, family, and parental love.

Through the DearTomorrow website, social media, community events, presentations, and public art exhibits, people can dedicate letters, videos, and photo promises about climate change to their family, children, and even their future selves. It opens up the line of communication across generations on the importance of climate change, with the hope of enacting positive actions that lead to a zero-carbon world.

DAFs and United Charitable

Headquartered in Tysons, Virginia, United Charitable is a registered 501(c)(3) nonprofit serving clients around the United States. United Charitable primarily works with wealth advisors and donors on establishing a range of charitable endeavors, often through donor advised funds (DAFs).

When it comes to naming a DAF, clients can choose any name they like, though it is often advisable to select a name that states the primary goal of the fund, such as “The (Name) Family Educational Foundation.” Naming a fund can also be the perfect time to honor a loved one or mentor, particularly if they were involved in the cause that is now the fund’s mission.

While establishing their charitable legacies, donors often wonder how they might involve their children in the philanthropic process. By naming a child a joint advisor on the fund, the child can become directly involved in the grant-making process. As a named successor, the child can take full control of the DAF as early as their 18th birthday, carrying on a family’s philanthropic tradition for generations to come.

Of course, other questions involve exactly how assets are invested into a DAF. Versatility and flexibility are key in this regard, once a DAF meets a certain threshold, United Charitable encourages families to use their personal financial professionals. With this in mind, investment plans can be highly customized, and United Charitable works seamlessly alongside your chosen professionals.

How Financial Statements Differ for Nonprofits and For-Profits

United Charitable is a Virginia-based nonprofit organization that offers a charitable vehicle, the Donor Advised Fund, for more efficient charitable giving and record management. Through United Charitable’s Fiscally Sponsored Programs, social entrepreneurs, or Program Managers, receive continual oversight and support relating to the administration of charitable projects, including accounting tasks.

The process for financial reporting is quite different between a nonprofit and for-profit. Both entities must track their transactions, produce timely financial statements, and maintain documentation that supports their financial reports. However, the financial statements of each reflect their differing goals.

For-profit companies use a balance sheet listing the equity that shareholders or owners have based on the liabilities, assets, and profits of the business. Since nonprofits do not have owners, they do not have a traditional balance sheet as part of their financial statements. Rather, they create a statement of financial position (SOP). An SOP still looks at prior earnings, assets, and liabilities for the organization, but it shows the organization’s net assets, the result of subtracting the liabilities from the assets. These net assets are either unrestricted, permanently restricted, or temporarily restricted, and they represent the organization’s net worth.

When it comes to reporting revenues and expenses, for-profit and nonprofit organizations also differ. While a for-profit company produces an income statement listing gains, revenues, expenses, and losses, a nonprofit organization prepares a statement of activities. This statement denotes changes to the organization’s net assets for the current fiscal year.

Wealth Advisor and Donor Services by United Charitable

Based in Virginia, United Charitable is a not-for-profit organization offering simple vehicles that allow for effective charitable giving, such as the donor-advised fund (DAF). A DAF is a proven and personal giving solution that aggregates charitable giving dollars and maximizes tax-relief while also helping donors to give on their own timeline, grow their charitable funds, and safely recommend grants. The United Charitable team tailor services to the specific needs of its clientele, which include wealth advisors and their donor clients.

When it comes to serving wealth advisors, clients benefit from expert insight into the most effective giving strategies for their situation. United Charitable’s representatives are well aware of how crucial the trust between advisor and client is. They strive to support this relationship by translating the charitable passion a wealth advisors’ client may have for a particular cause into the most effective, impactful philanthropic endeavor possible.

Through a DAF, donors and their wealth advisors, can simultaneously streamline giving processes and maximize charitable results. When it comes to working with DAFs, focus is committed to engaging with clients in accordance with their specific charitable vision and passions.

United Charitable - Basics of Donor-Advised Funds

Maker a change Photo by Kat Yukawa on Unsplash

United Charitable is a nonprofit organization that works with wealth advisors and other life planning professionals together with their donors to help them get more out of their philanthropic intentions. Through its services, United Charitable offers a donor-advised fund platform which is an efficient way to contribute to your favorite causes.

A donor-advised fund is a charitable vehicle that is established through a registered charity. Donors to the fund receive immediate tax deductions for their contribution and then those same donors participate by recommending how those funds are disbursed following their own personal timeline. It’s a great option for donors who would like to benefit from a tax deduction at a specific time but want to wait for the right opportunity to contribute to their chosen charity.
The contributions cannot be taken back. The fund can grow as a function of its administration by the donor's financial professional. The growth of the assets is not taxed and allows for the donated contribution to make an even greater impact over time. Donors can choose to recommend grants from the fund at any time, providing the opportunity to build a generational charitable legacy.