Donor Advised Fund
A Donor Advised Fund at the Warren County Foundation is like creating your own private foundation-but without the administrative complications and expense. It is intended for donors with a longer view--those who wish to see their charitable dollars grow and benefit the community far into the future. Both individuals and corporations can establish and maintain Donor Advised Funds at the Warren County Foundation.
Some donors know exactly which non-profits they plan to help. But if you have a general idea, we're here to help. The foundation staff can answer questions, provide information and research areas of interest to help you determine the organizations best able to manage your contribution-and those who may need it the most.
Here's how it works:
- You make an irrevocable gift of cash, securities or real property to the foundation.
- A Donor Advised Fund is then created in the name of your choice (your name, the name of a family member or someone else). Assets are invested in our professionally managed and monitored endowment pool. You fund is combined with other funds for better security, higher performance and lower investment costs. Every quarter you will receive a fund activity report in the mail. (Of course, you may also contact the foundation office at any time for your fund balance.)
- You can make a grant recommendation as soon as your fund is established. To make a grant recommendation, you simply complete a form which we provide you. You can send the form to us, or even fax it to us. On the form, you specify the name of the non-profit recipient, the dollar amount and the purpose for which the grant is to be used.
- Upon receipt of your recommendation, the foundation confirms the recipient organization's IRS tax-exempt status and any other appropriate criteria, and the grant is submitted to the foundation's Board of Trustees for consideration at its next meeting.
- Once the grant is approved by the foundation's Board, the grant check is mailed to the charity by the foundation with a letter indicating the fund from which the grant money was drawn. The grant check will be mailed to the recipient organization within a week of approval.