The Penny Foundation provides efficient and effective services to build a collection of permanent funds.
We Aim To Be A Trusted Leader In Organizing People
Our mission is to support philanthropic causes in the Black community. We enhance pathways for implementing effective capacity-building. In doing so, we connect people and organizations by mobilizing additional financial, social, and intellectual resources.
How Donor Advised Funds Work
Donor Advised Funds are a way for individuals, families, trusts, estates, nonprofits and organizations to maximize tax benefits while leaving behind a charitable financial legacy managed by The Penny Foundation. These gifts may be cash contributions, publicly-traded stock, or certain types of property, or in the form of a bequest. Creating, contributing to and making grants from Donor Advised Funds are restricted by federal laws. Relying on The Penny Foundation to manage your gift lessens and eliminates the administrative burden associated with such donations.
A convenient and flexible option for families, churches, alumni associations, social clubs and professional organizations to streamline their philanthropy and leverage their resources.
With your help, we are committed to increasing economic stability, sustaining smart communities, supporting entrepreneurship, building stakeholder relationships and assisting nonprofits and other organizations in bolstering the Black community.
Your investment in The Penny Foundation is stewarded by a staff, volunteers and board of directors committed to managing funds that support and affirm the African-American community. The funds will drive economic growth, innovation and community development — ultimately creating opportunities and addressing economic inequality. Below are more specific details to each fund.