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.