Suggest a Charity for Grant Consideration
in cooperation with Charitable Bank and Relentax CPAs & Advisors
Please provide as many details as possible about the charity you’re recommending. The clearer the information, the faster we can screen and approve eligible organizations. However, don’t get stuck on details that aren’t required — partial information is okay, and we’ll follow up if needed. We appreciate your continued patience and generous support.
Frequently Asked Questions
Navigate through our resources for helpful answers to your questions.
Yes. Charitable Bank is a highly complex tax framework involving charities, for-profit entities, and covering a wide array of disciplines, including tax, accounting, legal, and insurance. As a client, you will receive specific IRS codes, regulations, and court rulings that confirm our compliance with the law and our commitment to exceeding legal requirements.
No. The term “Charitable Bank” is a metaphor to help clients understand the capabilities and benefits of this tax structure. Describing the entity as a “bank” provides insight into its uses and best practices.
No. The Charitable Bank can only be used and established within the current calendar year and for future years. You are not permitted, nor will any team member allow you, to create this structure for previous years or backdate agreements to save on taxes.
No. Although this structure is called a “Charitable Bank,” it is not a personal bank account. Once assets are contributed, they become the property of the Charitable Bank. You have remarkable control and benefit from these assets for loans, investments and income from gains, provided it first benefits the Charitable Bank. However, you are not permitted to withdraw the cash, as doing so could violate several laws.
Yes. Our current understanding of the law does not require any amount to be donated to charity. However, our firm’s founders decided that by leveraging a charity’s participation and receiving personal value as a result, then charities should benefit immediately.
Yes. In most situations, a third-party business appraiser or asset appraisal specialist is required to complete your charitable donation. Our firm requires a disinterested third party to determine the fair market value, and we do not provide this service ourselves.
Yes. This tax structure is highly sophisticated. Our firm, along with other experts, has invested considerable time and money to ensure its legality and to provide the best outcomes for our clients. Expert advice is not cheap, but even after fees and charity contributions, our clients save a significant amount on their taxes and potential increase in wealth.
