We believe that working together will make us stronger and that education is the core of a successful community. We strongly believe that we need to work together as hard as we can to make the world a better place.
We have been witnesses that when someone needs help, no matter where you come from or what your financial status is, people will be there for you. Medical aid, college scholarships, building a home, and gifts to fulfill a kid’s wish, are life contributions that make a huge impact and change lives.
In this world, we will encounter obstacles that will make the journey more difficult. During those hard times, there are people willing to help others and provide a little push so they can continue with their dreams. There are a lot of foundations doing great things and all of them need money to operate and be able to help others. Every organization is looking for donors and that is becoming difficult to find, since at the end of the day, the donors have financial limits and the world’s financial situation is also going through a tough time.
After volunteering and talking with many successful foundations, doing some research, gathering lots of great ideas and also adding a lot of creativity, the idea of TU LEGACY was founded in 2013 with the purpose of reaching out to people that care and work together to build something sustainable.
TU LEGACY (TU), started with the idea of providing recurring donations and being able to utilize those donations in a more efficient way.
TU will bring together people that care and are willing to donate to build an endowment that will continue for many generations, helping kids, teenagers, families or elderly and give them the tools to succeed in their journey and dreams.
The contributions will be in a Donor Advised Fund (DAF) that will be able to grow while giving annual donations to different organizations.
The advantage of being a DAF is that the gifts will have the potential to grow and the costs of running it are significantly lower than a private foundation. Normally a foundation will have administrative expenses and costs that will run up to 25% of the total fund. The DAF will have an annual expense of approximately of 1%.
The donors will have benefits by giving a contribution to TU LEGACY, and some of them are:
- Immediate and unlimited tax deduction.
- Reduces estate taxes.
- Gifts or donations will grow.
- The benefit of a private foundation without the expense.
- The donor won’t have tax and legal concerns, expenses, recordkeeping of dealing with their own foundation.
TU LEGACY is a tax-qualified charity that will provide the donors with immediate and full tax deductions and, at the same time, seeks to increase the value of your original gift by prudent investing.
TU LEGACY will simplify and increase the power of giving while it addresses the donor’s tax and charitable giving needs.
It’s important to understand that the grants cannot be used to fund a private foundation or for political or lobbying purposes. Once the donation is made, the funds will stay in the DAF and have to be used only for donations to registered charitable organizations.