Palisades Hudson Charitable Portfolio, Inc., (PHCP) is, as its name implies, a “portfolio” of charitable options. Besides a conventional donor advised arrangement, we are establishing our own philanthropic program in the following areas:
- Humanitarian Relief: To alleviate human suffering caused by war, civil strife, famine, drought, or natural disaster, and to restore infrastructure for normal economic activity.
- Human Rights: To promote and protect basic human freedoms, including freedom of expression, freedom of association in personal and political affairs, and freedom of conscience in matters of moral and religious choice. Also, to assist those who confront violence, coercion and discrimination in pursuit of these freedoms.
- Wildlife and the Environment: To protect, preserve and restore natural balance and wildlife diversity and to promote economic activity that is compatible with these goals.
- Science and Health: To support the discovery and application of advances in knowledge to prolong healthy life, reduce suffering, and enhance opportunities for personal development.
- Education: To provide opportunities for personal growth and development, and for the achievement of human potential.
- Arts and Culture: To support and enhance creative endeavors and artistic expression.
- Donor advised option: Donors indicate qualified public charities to which they wish PHCP to make disbursements. Each disbursement must be at least $500. Donors may not make “quid pro quo” disbursements to charities from which they receive a direct or indirect benefit in return.
The Internal Revenue Service has recognized PHCP as a public charity that is exempt from tax under Section 501(c)(3) of the Internal Revenue Code. Contributions to PHCP are deductible for federal income, gift and estate taxes, subject to limitations in the tax code.
PHCP accepts contributions of cash and publicly traded securities, with a $10,000 initial minimum. Additional contributions of $5,000 or more are permitted. Each donor’s fund must disburse the greater of $10,000 or 5 percent of the fund’s beginning balance each year. Donors can establish pre-arranged disbursement programs, and can reallocate their disbursement programs among the various portfolio options.
Gifts to PHCP are irrevocable. Final authority over all matters, including disbursements, rests with PHCP.