With a year-end gift to Akron Community Foundation, Akron Children’s Hospital President and CEO William Considine and his wife, Rebecca, created a donor-advised fund to perpetuate their philanthropy in the Greater Akron community. The Rebecca D. and William H. Considine Family Fund of Akron Community Foundation was created on Dec. 23, 2015, with a gift of more than $500,000 in appreciated securities.
“Becky and I are very proud of our family’s beliefs and values. We’ve benefited greatly from our parents’ nurturing, as well as the wonderful role models throughout the Akron community that provided both of us opportunities,” Bill said. “We believe in the spirit of our hometown and the people of Akron. We have a responsibility to give back and support those organizations that are the fabric of our town, and we are proud to team up with Akron Community Foundation for our donor-advised fund.”
Donor-advised funds streamline their establisher’s charitable giving: Donors get a charitable tax benefit at the time they start their fund and when they add to it, which they can do at any time. They can donate money to the fund when it makes the most sense financially and then take their time choosing which nonprofit organizations to support with grants from their fund.
“Akron Community Foundation is the only place in town where someone can support their alma mater, their place of worship, and nonprofits like Akron Children’s Hospital with a single gift to their donor-advised fund,” said Akron Community Foundation President and CEO John T. Petures Jr. “Many people don’t realize this tool exists, so when people like Bill and Becky Considine start a donor-advised fund, it goes a long way toward educating the public of its value and benefits. We are grateful for their trust and generosity.”
A donor-advised fund can be started at Akron Community Foundation with as little as $5,000 and can be named for an individual, family, company or anonymously. Establishers can grow their fund in perpetuity or make unlimited grants throughout the year. When the establishing donor or donors pass away, they can assign loved ones to advise the fund or leave the remaining assets to one or more nonprofits of their choice.
In all, Akron Community Foundation manages more than 520 charitable funds created by individuals, families, companies and nonprofits from all walks of life. For a full list of charitable funds at Akron Community Foundation, visit www.akroncf.org/OurFunds. For information about starting a charitable fund, visit www.akroncf.org/GivingYourWay or call Margaret Medzie, vice president of development and donor engagement, at (330) 436-5610.
Celebrating 60 years of building community philanthropy, Akron Community Foundation embraces and enhances the work of charitable people who make a permanent commitment to the good of the community. In 1955, a $1 million bequest from the estate of Edwin Shaw established the community foundation. As of Sept. 30, 2015, it is a philanthropic endowment of more than $176 million with a growing family of more than 520 funds established by charitable people and organizations from all walks of life. The community foundation and its funds welcome gifts of all kinds, including cash, bequests, stock, real estate, life insurance and retirement assets, just to name a few. To date, the community foundation’s funds have awarded more than $129 million in grants to qualified nonprofit organizations. For more information about Akron Community Foundation or to learn more about creating your own charitable fund, call (330) 376-8522 or visit www.akroncf.org.