Continuing a legacy of giving back to the community
Bob and Cindi Ludwig established a donor advised fund at the Community Foundation of Huntsville/Madison County entitled the Caring C's Family Fund. Cindi, a community volunteer, and Bob, retired publisher of the Huntsville Times, have played a vital role in our community for many years. This fund allows them to continue their legacy of giving. The Caring C's Family Fund was the Foundation's first externally-managed fund. Externally-managed funds allow donors to continue to have their personal financial advisor manage the assets of their fund, after it has been donated.
When asked why they established their family fund, Cindi shared, "As Bob and I were reflecting on how we want to be remembered and on where we believe that we have made a difference, we realized that giving to the community of our time, talents, and funds has been a big part of our lives. We wanted to continue this pattern of giving, and the Community Foundation seemed to be a good fit."
So, where did the name "Caring C's" originate? All of the Ludwigs' children's names and grandchildren's names begin with the letter C, and hence the fund name was born. "I would like to think our most important and best legacies are our children and grandchildren. We are comfortable they will be good stewards of the funds, and we hope they pass the gift of giving on to their children," said Cindi.
A donor advised fund is a special fund set up and named by the donor. The donor receives the tax benefits in the year the fund is established. The Community Foundation holds and invests the fund and all income accrues to the fund. The donor may make donations from the fund to charity over a period of years or even generations with the Community Foundation handling the administrative details.
The bonus is that the Ludwigs were also able to maintain the long-standing relationship that they share with their financial advisor, who manages their donor advised fund, while facilitating their giving goals through the Community Foundation.