This popular fund type is easy to use and a tax-smart way of streamlining your giving.
You are in the driver’s seat: You make gifts, and get an immediate tax benefit. Then you recommend grants to charities of your choice: We vet the nonprofits, write the checks, and handle the paperwork. While the recommendations can’t be binding (under IRS rules, our board has the final say), we take your suggestions very seriously.
Make it a family affair: You can name other advisors who may join or succeed you in recommending grants. As soon as we have your fund agreement and gift, you and those you appoint can start making suggestions. Of course, you can change who can make suggested grants from your fund.
Our donors take satisfaction in knowing their modest fees support our work to make New York better for all.
Donor-advised funds are assessed the following annual administrative fee. It is the greater of:
50 basis points (5/10 of 1%) of the average market value (Example: Average market value of $300,000 = $1,500)
2.5% of grants paid (Example: Grants of $15,000 = $375).
The fee is based on market value and taken in quarterly installments. If the fee collected by the end of the year is less than 2.5% of grants paid, then the difference will be withdrawn during the first quarter of the following year.
Cash waiting to be distributed in grants, identified as the “Grantmaking Account” on a donor statement, does not earn interest for the fund.
The fee on an individual grant of $500,000 or more is reduced to 1%.
Funds exceeding $50 million may be subject to further discount (depending on the nature of the holdings).
The minimum annual fee is $100.