Donor Advised Fund
Tom and Mickie Fox have a donor advised fund at the Grand Rapids Community Foundation.
A donor advised fund at Grand Rapids Community Foundation is simple to establish and operate. The Community Foundation is responsible for making sure that legal requirements for investment, distributions and payouts are met. Advised funds allow you to manage your charitable giving without the work and expense of running a private foundation.
With a donor advised fund, you can refer requests to us, give anonymously, or suggest we make payments to any charity that meets IRS guidelines. Then, we take care of all the administrative details. Under the Internal Revenue Service rules, our board must approve all grants. Our grant allocation procedure protects you by making sure your grantees meet the legal standards for charitable intent.
Donor advised funds also offer the option of allowing your children or grandchildren to participate as advisors during your life, or take over as advisors after your death. More and more people are choosing this option to include the next generation in family philanthropy, and to pass on the value of charitable giving.
After the death of the last advisor, donor advised funds retain their name and preserve the legacy of the contributor, but become unrestricted or field of interest funds.
Key benefits to remember:
- Create a lasting gift in your name or in the name of a loved one
- Establish a fund which acts like a private foundation without the administrative work and expense
- Participate in the grantmaking process
- Access the expertise of the Community Foundation's professional staff
- Add to your fund at any time
- Receive an immediate tax deduction
© Grand Rapids Community Foundation - 161 Ottawa Avenue NW 209 C - Grand Rapids, Michigan 49503 - 616.454.1751
