What can I give to start or add to my Donor Advised Fund?
You can give lots of things. The easiest gifts come from cash and securities, such as stocks of public companies. The Foundation has authorized other gifts, too, but reserves the right to review–and possibly decline–certain gifts before accepting them. Examples of these types of gifts include real estate, ownership in private companies and personal property like art. To learn more contact us.
What does it mean to “recommend a grant?”
When you make a gift to your Donor Advised Fund, you complete a contribution to the Blue Mountain Community Foundation. It terms of tax treatment and legal matters, you have completed a gift. A Donor Advised Fund allows you, or someone you designate, the right to advise or recommend to what organization(s) some or all of your gift should be distributed. We call this making a grant.
As a community foundation, the ultimate authority is the Board of Trustees. With a donor advised fund, you “recommend a grant” for the Board’s approval. They are not required to approve it. There are certain types of grants that may not legally be made from a Donor Advised Fund. However, in most cases, your recommendation will be approved and a grant will be issued in the name of your fund.
Why would the Foundation say “no” to a grant I recommend?
Under Federal law, the Foundation is bound to decline certain types of grants. For example, the Foundation cannot make a grant from a fund that fulfills a legally-binding pledge you make to a charity. Since the balance in your fund is the property of the Foundation, you can’t make an agreement with another charity on the Foundation’s behalf. You can tell a charity that you will recommend a grant from your fund.
Another example is that you may not receive a benefit for having made a grant. This does not mean a token gift like a coffee mug or your fund name being listed in a nonprofit publication. A benefit comes from something like seating preference for football season tickets.
As part of underwriting your grant recommendation, Foundation staff will seek to understand whether or not your recommendation is OK under the law.
How do I recommend a grant?
The easiest way is through DonorCentral, our online system. Alternatively, you can fill out our paper form, sign it, and fax, mail, or bring it to our office.