Donor Advised Funds
Establishing a Donor Advised Fund allows you to make a gift to your community foundation then remain actively involved in suggesting uses for your gift. You can work with the community foundation’s professional program staff to suggest ongoing uses for the fund — targeting the issues you care about most. Grant awards are issued to charities in the name of the fund (or anonymously if you prefer). It’s a simple, powerful, and highly personal approach to giving.
With a Donor Advised Fund, there is no requirement for the donor to establish a new tax exempt entity, which takes time, administrative effort and money, and there is no annual filing. The donor signs a simple agreement with the ECCF, designates an advisory committee that will advise ECCF with respect to the grants to be disbursed from the funds, transfers the assets (we accept a range of assets – Ways to Give), and then grantmaking can begin.
Designed to be easy so you can focus your efforts on giving...
Make a few decisions
To set up a fund, you need to decide on the name, how much you want to donate, whether or not you want the fund to be endowed, and who will advise the fund.
Sign an agreement
We have provided a sample agreement for your reference. Link to sample agreement.
Begin advising grants
Once your fund is established, you may begin advising grants to charities of your choice.
Minimum opening balance and fees
Donor advised funds can be established with a minimum of $10,000, and are charged an administration fee of 1% up to the first $500,000. A discounted fee scale is applied with larger fund balances. There is also an investment fee. Click here for management fee information.
If you have questions about fees call us at 978-777-8876 or email David.
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