CHARLOTTE, N.C., April 7, 2011 /PRNewswire/ -- Chanticleer Holdings, Inc. (OTCBB: CCLR), announced today, the launch of the new Chanticleer Foundation (CF), a donor-advised fund, which allows individuals to create their own foundation for philanthropic gifts and donations within the CF structure.
Through the foundation, individuals can transfer assets of all kinds, including cash, stock, and real estate, into a fund and immediately receive a tax deduction at the time of donation without having to incur the costs of creating a new, stand-alone philanthropic organization. The CF structure is ideal for individuals, families or organizations interested in creating a sustainable philanthropic vehicle for giving while quickly reducing their tax liability.
"The Chanticleer Foundation gives socially responsible individuals and corporations the flexibility to donate on their own timeline," said Mike Pruitt, chief executive officer of Chanticleer Holdings. "Knowing exactly where and when you want your philanthropic efforts to go can be stressful coupled with the administration costs of running a foundation can be an overwhelming for those who are looking to give. What we have done, is to provide our donors with valuable advice and recommendations so our customers can do social good, without the headache of setting up their own foundation."
After the initial investment, individuals are free to make additional contributions to the account or to the charities of their choice at any time throughout the year. The funds can then continue to grow, tax-free, allowing for larger and more generous contributions and gifts.
Chanticleer also provides a suite of complimentary advisory services for its clients to support asset preservation and growth management. As part of Chanticleer Advisors, the firm manages over $11 million for private investment funds including: Chanticleer Investors LLC, Investors II, LLC and Chanticleer Dividend Fund.
The minimum contribution to participate in the fund is $100,000, with an annual fixed service fee of 1.5 percent. The minimum grant amount is $500.00 per grant, with a minimum grant distribution of five percent of the DAF balance as of January 1 of each year.
For more information about Chanticleer Foundation, please visit www.chanticleerfoundation.com.
About Chanticleer Holdings, Inc.
Chanticleer Holdings, Inc. is a publicly traded holding company that is headquartered in Charlotte, NC. It operates two wholly-owned operating subsidiaries: Chanticleer Advisors, an investment manager; and Avenel Ventures, a consulting firm. Additionally, the company owns several minority investments in private companies, including an interest in a convertible note into Hooters of America, Inc. Chanticleer Holdings, Inc. was formed in 2005 as a business development company. In 2008 our shareholders elected to convert to an operating holding company. For further information, please visit www.chanticleerholdings.com
Todd Fromer/Sharron Silvers
KCSA Strategic Communications
SOURCE Chanticleer Holdings, Inc.