Based in San Jose, California, John Ramsbacher and his team of six attorneys offer individualized wealth management and tax planning services. Attorney John Ramsbacher emphasizes a personalized approach in exploring charitable planning pathways such as private operating foundations and grant-making.
As closely-controlled organizations, private foundations have a limited number of funding sources. With the majority of such foundations focused on making grants, operating foundations are distinct in that they oversee self-directed charitable programs and endeavors. The state- and federal-level regulations governing private foundations are extensive, and an experienced attorney is necessary to properly set up the foundation. An attorneys is also needed to ensure that the foundation complies with requirements regarding minimum annual payouts and that it does not pursue jeopardy investments. Additionally, self-dealing must be avoided between the private foundation and individuals such as officers, directors, and substantial contributors. When properly set up, a private foundation can offer numerous tax advantages that complement the social benefits it achieves. The Ramsbacher Prokey, LLP, team has extensive experience in a full range charitable giving options as well as deferred and current giving strategies.