Bruce Denson says his only regret with starting a Donor Advised Fund with the Community Foundation of Greater Birmingham is he wishes he had done it sooner.
“I wish I had known about the Community Foundation earlier in my life because I would have given more money,” Denson says. “It’s a great vehicle to give money in perpetuity to charities in Birmingham.”
Denson learned about the Community Foundation from his friend and estate planning advisor Lloyd Wilson. A chat with Wilson helped Denson decide to create a fund with the Foundation that will support his favorite nonprofit organizations now and for years to come through his IRA donation and his Charitable Annuity Trust. The Foundation will also give guidance to Denson’s children when it’s time for them to take over the fund.
Denson’s goal for his fund is two-fold. He wants to lend a helping hand to those in the Birmingham area who need it and he wants to give back to the local institutions that helped him become who he is today.
“I love Birmingham,” Denson says when asked why he wants to help the city thrive. “It’s a great city with great people. I’ve lived here my whole life and I wouldn’t consider living any place else.”
Growing up, Denson attended Birmingham University School – a predecessor of The Altamont School.
“Birmingham University School was very foundational for me in my life,” says Denson, who went on to serve on the board for Altamont for 31 years.
The Altamont School is one of the organizations Denson will contribute to through his Donor Advised Fund. The fund will also contribute to St. Luke’s Episcopal Church – which Denson has attended since childhood – and to the United Way of Central Alabama.
“I’ve been blessed to have made some money in my lifetime,” says Denson, who had great success as chairman of the insurance brokerage firm Cobbs Allen. “And I feel an obligation to give back.”
Partnering with Professional Advisors
The Community Foundation works with advisors like Lloyd Wilson, president of Lloyd R. Wilson & Associates, to help integrate their clients’ business, personal and financial decisions, and tax-planning needs with customized charitable plans that reflect their giving priorities. Advisors like Lloyd are our most frequent source of referral and we could not be more grateful for their partnership and trust.