New fund supports charity

This allows people to have the benefit of a private foundation, with professional management and assistance, and tax breaks, without having to have megabucks to set it up -- a contribution of $25,000 will suffice.

The donor controls who will receive the money, and what amounts over time.

In this way the donor can have the benefits of a private foundation, including professional set up and advice and tax benefits, without having to fund large amounts, thus making it available to middle-class donors.

Steve Robinson thanked the speaker.