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Establishing a Fund
Donor Advised Funds are a convenient, flexible vehicle for meeting your charitable goals. They allow you to make a gift to the Community Foundation while remaining actively involved in recommending uses for your gift. This is easy and has benefits a private foundation can not provide. Below are the advantages and how to set up a donor advised fund.
Tax Advantages
Contributions to the Community Foundation qualify for maximum tax deductions. We can receive many types of assets, and will work with your advisors to achieve your charitable goals. Professional administration and grantmaking assure maximum impact on community needs now and in the future.
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Eliza Yeager started a donor advised fund in 1999 as a memorial to her late husband Dick Yeager. When Hospice Rollingstone Respite House Campaign recently launched, she was able to give a gift she felt could "make a meaningful difference".
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Simple and Flexible
A fund can be established with a simple agreement, usually in one meeting. Almost any type of charitable giving can be accomplished through a fund at the Community Foundation, whether you want to support a specific organization or a broad range of interests. Grants can be made to any nonprofit organization.
Community Knowledge
The Community Foundation's staff knows the Yampa Valley, its needs and its challenges. The staff works closely with local nonprofits to improve community life and address opportunities. They are available to share this knowledge and help customize a giving program.
Convenient & Efficient
Each fund has separate accounting, but pooling for investment purposes. We handle all administration, monitor results, and provide financial and tax reporting.
Accountable and Permanent
The Community Foundation is managed by an active board of volunteers who are responsible for the stewardship of each donor's charitable intent. Endowment funds are managed so that gifts made today will provide benefits to the Yampa Valley for years to come.
Donor Advised Funds - How they Work
- You make a gift to the Community Foundation of cash, securities, real estate, or other assets.
- You select the name of the fund.
- You receive immediate tax benefits when your gift is made.
- You recommend uses for the fund — working with our professional staff to support the causes and nonprofits you care about the most.
- Your recommendations are presented to our Board for approval.
- We handle all the administrative details and issue grants to nonprofits in the name of the fund you establish (if you prefer, grants can be made anonymously).
- A small annual management fee will be charged against the fund.
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