Kam Babaoff is managing director of Ensemble Investments, specializing in the acquisition and development of medical facility properties. He and his wife, Lily, are long-time supporters of several charitable organizations, especially those helping children with disabilities.
The Beverly Hills couple considered setting up their own foundation but found the process to be too complicated and costly. The Foundation offered a simple and convenient alternative that would take care of all the administrative work and provide the Babaoffs with access to experienced professionals.
Kam was surprised when advisors at The Foundation told him that he could donate his interests in limited liability companies to The Foundation to establish a Donor Advised Fund. By doing so, he was able to avoid all capital gain taxes and receive an income tax deduction equal to the total market value of the donated interests. The end result was a win-win for the Babaoffs and the community.
By setting a great example for their three children, Kam and Lily have turned philanthropy into a family affair.
Our children - especially our college-age daughter - are already taking an interest in philanthropy because they see what we are doing. One of these things that attracted us to The Foundation was their wide range of consultative and educational programs for families. As our children grow older, we plan to take advantage of those resources to help make our philanthropy a multi-generational enterprise.
Kam and Lily Babaoff