The Marietta Daily Journal (MDJ) Community Fund was born out of a deep commitment to Cobb County. In this conversation, siblings Otis Brumby III and Lee Brumby Garrett share how their father’s legacy of giving inspired them to evolve the family foundation into a donor-advised fund—and why they chose Cobb Community Foundation to carry that legacy forward.
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The Marietta Daily Journal Community Fund began as a family foundation. Can you tell us about its history and the impetus for starting it?
Our father, Otis Brumby Jr., the longtime publisher of the Marietta Daily Journal, always emphasized the importance of giving back and supporting the local community. He established the MDJ Community Fund in the 1990s as a way for the company to support positive community projects and local non-profits making an impact in Cobb.
What prompted you and Lee to transition the foundation to a donor-advised fund?
Over the past few years, Lee and I began learning more about the benefits and flexibility of a donor-advised fund compared to a private foundation. The lower administrative costs, no annual tax return, no excise tax on gains, and maximum flexibility regarding annual giving requirements made it an obvious choice for our situation.
You involved your attorney, Megan Flores at GDCR, in this decision. What were her initial thoughts on the transition?
We engaged Megan to confirm the benefits Lee and I saw with a donor-advised fund and to ensure a smooth transition as we dissolved our private foundation. Megan agreed that moving to a donor-advised fund made sense for our situation, and the transition proved to be relatively easy.
Why did you choose to establish the donor-advised fund at Cobb Community Foundation?
Simply put, we wanted to “Activate Good” in our community! The Cobb Community Foundation’s mission to connect local donors with worthy local causes is something we strongly wanted to be a part of. CCF was also the perfect entity to achieve our DAF goal, with virtually no startup costs and very low ongoing fees. Shari Martin, her team, and the Cobb Community Foundation board have a stellar reputation in the community and made the transition to a DAF incredibly easy.
Want to support the MDJ Community Fund’s mission to activate good in Cobb County? Make your donation today on Cobb Community Foundation’s Giving Hub.
