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Donor-Advised Fund
You can assign family members and others to join you in advising the foundation
on how the income or principal from your fund should be distributed. The requirements
about who can continue as your fund’s advisors after your death, and
for how long, vary for different community foundations. You can establish a
broad
purpose for your donor-advised fund, or specify a field of interest. The community
foundation may charge an annual fee for administering your fund. Donor-advised
funds can be set up by individuals, families or companies.
Donor-advised funds are viewed by some as an alternative to establishing a
private foundation. To learn more about the differences between establishing
a donor
advised fund at a community foundation and establishing a private foundation,
see the following chart:
CHARITABLEGIVING OPTIONS: |
|||
Direct |
Private |
Public |
|
Donor can control investment of assets |
No |
Yes (1) |
No |
Donor can control giving priorities |
Yes (2) |
Yes |
Limited (3) |
How likely to be perpetual |
Low (4) |
High |
High |
By virtue of gift, donor may control who serves on governing board |
No (5) |
Yes |
No (5) |
Requires donor time and effort, plus expense of staff and management |
No |
Yes |
No (7) |
Minimum pay out required |
No |
Yes |
No |
1. Pooling resources with others limits direct personal control.
2. Charity and donor can agree on how contribution is spent.
3. A restricted gift can be confined to the stated purpose, but the donor relinquishes
control of the investments and its disposition. A donor advised fund permits
the donor
to make recommendations subject to the ultimate control of the public foundation.
4. Except when you create an endowment.
5. Any citizen may be elected or appointed to the board of any public charity.
The donor gift does not guarantee such an outcome except in the case of supporting
organizations.
6. Giving circles vary in requirements for involvement and in management structure
and cost.
7. Public foundations often assess a management or administrative fee.
