A Donor-advised Fund, established within a community foundation, enables individuals with philanthropic interests to plan their charitable giving, as well as maximize its impact. Donors can recommend grants to a charity requesting that funds be disbursed to support other charities and worthwhile projects of their choice, based on their own preferences and timetable. Generally, donors cannot make recommendations on how gift contributions should be invested to increase the charitable giving power of the fund, as this task is usually the responsibility of the foundation's Investment Committee, as delegated by the Board of Directors. See also charitable gift fund (CGF).
A fund held by a community foundation where the donor, or a committee appointed by the donor, may recommend eligible charitable recipients for grants from the fund. The community foundation's governing body must be free to accept or reject the recommendations.
a charitable fund established by an individual or family
a fund in your name created inside a public charity
a fund (not a separate entity) that is created and maintained within a public charity, such as a community foundation, university or church
a fund that allows donors to recommend charitable grants and the initial investments for fund contributions
a fund typically held by a public charity consisting of money contributed by an individual or entity
a fund within a public charity designed to provide aggregated investment management for charitable contributions from multiple donors
an attractive alternative for smaller-scale giving or for those who have no interest in running their own foundation
a personal charitable investment account that can be opened with a gift of cash, stock, real estate, life insurance policy, or almost any hard-to-value asset
a philanthropic vehicle which allows donors to create accounts with their donated assets, qualify for an immediate tax deduction, and then recommend charitable entities to receive grants from those particular accounts
a way for you to make contributions to all your favorite charities by centralizing your charitable dollars in one convenient location
A charitable investment vehicle administered by a charitable organization taking into account the recommendations of the donor. The myCFO Charitable Fund Program and the Harris Charitable Giving Fund Program are donor-advised fund programs administered by the myCFO Foundation, a public charity described in 501(c)(3), 509(a)(1) and 170(b)(1)(A)(vi) of the Code. Donors can establish their donor-advised fund with the myCFO Foundation by making a contribution to the account. Contributions are irrevocable and are controlled by the myCFO Foundation, which invests the contributions in one or more investment pools. Although the donor no longer controls the gift once contributed, he or she can advise the myCFO Foundation regarding both investments and grants.
A donor-advised fund is generally a public charity (or part of a public charity) that holds contributions from donors as separate accounts Donors can establish an account in a donor-advised fund by making a contribution to the fund. The contribution is irrevocable and is eligible for an immediate tax deduction. Although the donor no longer controls the funds once contributed, they can recommend grants to other charitable organizations, and in the case of the Schwab Fund for Charitable Giving, how their contributions are invested. Such recommendations are non-binding and advisory.
The donor or designated parties actively participate in the grantmaking process by making recommendations to the community foundation of recipient organizations from the fund. The GCRCF board has final authority to approve or disapprove the donor recommendations.
Any separately accounted for fund maintained by a sponsoring charity where (a) the donor or a designee of the donor is given the opportunity to advise the charity regarding investments, grant recipients, and the amount and timing of grants; and (b) the sponsoring charity retains exclusive legal control over all decisions regarding investments, grant recipients, and the amount and timing of grants.
Fund enabling donor participation in the distribution of income from the fund. While the donor's advice is welcomed and generally followed, it is not binding by law.
A charitable investment vehicle administered by a nonprofit organization. Franklin Templeton Charitable Giving Fund is a donor-advised fund administered by Renaissance Charitable Foundation, Inc.. Donors can open an account in a donor-advised fund by making a contribution to the fund. The contribution is irrevocable and becomes controlled by the nonprofit administrator, who invests the funds in investment vehicles recommended by the donor. Although donors no longer control the funds once contributed, they can advise the administrator regarding grants to other charitable organizations.
Through a donor-advised fund, a donor creates a named fund with a community foundation or other institution that provides this vehicle. The fund can be a permanently endowed fund from which only income is distributed, or be a fund from which principle and/or income can be distributed.
a fund in which the donor exercises the privilege of making nonbinding recommendations to the governing body as to which public charity or charities should receive a grant from this fund.
