Are you looking for an alternative to a private foundation? A supporting organization is an easy and efficient option that provides you with lower operating costs, substantial tax advantages and access to a wide range of support services. While affiliated with the Greater Milwaukee Foundation and benefiting from the Foundation’s public charity status, a supporting organization has its own separate corporate structure and its own board that makes decisions on grantmaking, gift acceptance policies and other matters. A minimum balance of $1 million is required.
A supporting organization’s purpose must be compatible with the Foundation, and the IRS requires that a majority of its board members be appointed by the Foundation. Typically, board members are selected from a list of qualified candidates recommended by the donor.