USA – OKLAHOMA Law and Practice Contributed by: Aaron Bundy and Danya Bundy, Bundy
is the absence of legal control, since the sponsoring organisation owns the fund and the family holds only advisory privileges. Private foundations remain the choice for families who want control, a governance role for children, staff of their own, and a permanent identity for the family’s giving. The tradeoffs are the 5% minimum distribution requirement, the excise tax on net investment income, self-dealing and other private foundation restric - tions, and public disclosure through returns anyone can read. Charitable remainder trusts serve donors who need retained income, and charitable lead trusts leverage transfer tax benefits for family remainders. Supporting organisations occupy a narrow niche for large gifts tied to specific institutions. Many families end up with a blend, running a foundation for identity and governance while using a donor advised fund for convenience and privacy.
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