Couple donates $50,000 to foundation

By Barbara Diamond, <a href=”mailto:coastlinepilot@latimes.com”>coastlinepilot@latimes.com</a>

Oct. 5, 2015 10:32 PM PT

An Irvine couple who plans to move to Laguna Beach someday have already made an investment in the city.

The Laguna Beach Community Foundation announced this week a $50,000 donation by Mark E. Towfiq and Carol K. Nakahara to establish a donor-advised fund here in town. The couple plan to move to Laguna from Irvine at a future date.

“Laguna Beach is a unique community, and one of the reasons we plan to relocate to Laguna is its spirit of involvement,” Towfiq said. “We feel the Laguna Beach Community Foundation is the ideal umbrella organization to take care of our charitable giving.”

The foundation fosters philanthropy in Laguna Beach with many vehicles for charitable giving.

Donor-advised funds, which the Towfiq family chose, allow the donors to designate a specific beneficiary, which can be stipulated at a later date, while the fund earns interest. And the donor can immediately take a tax donation.

The beneficiary must be a 501(c)3 nonprofit organization.

Other options offered by the foundation include unrestricted and restricted endowments, field of interest funds, specific charity funds, nonprofit agency funds and planned giving.

“We thank the Towfiq family for their thoughtful gift and look forward to a continued relationship with them as they begin to support Laguna Beach charities,” said Don Clurman, foundation trustee.

Towfiq, who is retired, and Nakahara own property in the Rockledge area of Laguna Beach where they plan to relocate when their children are out of school in Irvine, foundation trustee Mary Fegraus said.

The couple plans to become involved in Laguna Beach community events.

“We look forward to involving our family in community events and helping our children learn about the spirit of giving both financially and as volunteers,” Towfiq said.

For a list of the donation options, visit https://www.lagunabeachcommunityfoundation.org. For more information about the option and the foundation, contact Loveland at darrcyloveland@lagunabeachcf.org or at call (949) 715-8223.