Although community foundations were started to administer permanent charitable funds set up through wills, The Trust was among the first to offer services to living donors.
Donor-advised funds allow donors to make grant recommendations to charities of their choice. While the recommendations cannot be binding (under Internal Revenue Service rules our board has the final say), we take the suggestions very seriously. Under board guidelines, our staff reviews basic information provided by the charity to ensure that its fiscal affairs are in order and that it is actively serving the public. Our board has established broad guidelines for suggestion approval, assuring rapid processing of each grant, which bears the name of your fund. We take care of all the record keeping and reporting.
Donor-advised funds offer several advantages. They give you:
- the services of professional grantmaking, financial, and investment staff of a $2 billion institution.
- an immediate tax deduction without having to make quick decisions about which charities you want to support.
- the maximum deduction allowed by law.
- the opportunity to build an endowment over time.
- very modest fees.
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