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Philanthropic Services

First American Bank has the expertise in philanthropic services to work with you and your other professional advisors to custom tailor your charitable giving strategy to fit your planning needs. First American Bank serves as corporate fiduciary and/or investment manager for charitable trusts and private foundations.

Charitable Remainder Trusts

If your desire is to establish a means of income during a period of time with an intention to leave a gift to your favorite charity, you may find it to your advantage to use a charitable remainder trust for that gift.

A charitable remainder trust pays you, you and your spouse, or someone else that you have chosen, an income for life or a period of years. The trust ends at the death of the last income beneficiary (or earlier if that is what the trust specified), and the charity receives the trust asset.

      

Charitable Lead Trusts

If you are currently making regular gifts to your favorite charity, or would like to make regular gifts to a charity, you may find it to your advantage to use a charitable lead trust for those gifts.

A charitable lead trust pays income to the charity of your chose for a set period. At the end of the period, the trust assets pass to the person you have named as the trust’s remainder beneficiary, such as your child or grandchild.  

       

Private Foundations

If your desire is to establish a lasting charitable legacy with income and estate tax benefits, you may find it to your advantage to set up a private foundation.

A private foundation can be in the form of a trust or entity. The foundation is managed per the terms of the governing documents which you established during your lifetime. The governing body oversees the review of grants to charities, compliance and tax matters and the overall investment strategy of the foundation’s assets.  

 
Private Foundations Seeking Grant Applicants

Generally grants are restricted to organizations located in the greater Chicago metropolitan area which often have difficulty applying for and receiving similar funding from other sources.

Andrew and Alice Fischer Charitable Trust

The Trust’s primary focus is to provide funding in the following fields:

  • Education for physically, emotionally, financially and/or developmentally challenged individuals;
  • Programs benefiting children;
  • Programs benefiting senior citizens; and
  • Programs benefiting United States Veterans.
      

Guy A. and N. Kay Arboit Charitable Trust

The Trust’s primary focus is to provide funding in the following fields:

  • Education for the underprivileged;
  • Cardiac and cancer medical research and programming; and
  • Religious or religious charitable activities, particularly those related to the Catholic Church.

 

 

 

Andrew and Alice Fischer Charitable Trust Grant Application

 

Guy A. and N. Kay Arboit Charitable Trust Grant Application

 

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