Donor advised funds allow the donor to actively participate in the grant making process by recommending to the Community Foundation the purpose and organizations that receive the annual income. Recommendations are referred to the Community Foundation’s Board of Directors for approval. Many advised funds become unrestricted on the death of the donor or at the end of a specified period.
Temporary donor advised funds work just like an endowed fund with the exception that the minimum establishing gift is $1,000. Use this option for end-of-year giving to multiple charities. You can write a single check or give stock to your community foundation, get one gift acknowledgment for tax purposes, and still make gifts to several charities. For a sample agreement for this type of fund, please contact us.