A Wise Investment in Philanthropy
In 1991 Dick and Norma Sarns, along with their sons David and Steven, transferred their family foundation’s assets to the Ann Arbor Area Community Foundation to establish AAACF’s first donor-advised fund.
The Sarns Family Fund at AAACF gives the Sarns the ability to continue to direct their philanthropy without incurring any administrative burdens associated with running a private foundation. Over the past 20+ years, the Sarns Family Fund has provided meaningful support to a number of local organizations including the Ann Arbor Hands-On Museum, Packard Health, Michigan Theater, United Methodist Retirement Communities and other organizations near and dear to the Sarns.
As Dick Sarns notes, "We knew AAACF could offer effective investment management, significant cost savings and additional tax advantages. More important, we realized that working with the Community Foundation could increase both the reach and impact of our philanthropy."
Eventually the Sarns Family Fund will convert to an unrestricted fund at AAACF. Norma explains, "As times change, needs change. By providing unrestricted support, we can help ensure that the Community Foundation will always be able to do its work."
One of the many ways the Ann Arbor Area Community Foundation
supports all that is good in our community.
Read more "good" stories at:
aaacf.org/stories
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