Donor Advised Funds
Donor Advised funds offer donors the most flexibility and involvement in their grantmaking. Many donors choose a donor advised fund over a family foundation because of the administrative ease and lower cost. Donors also enjoy the opportunity to teach philanthropy to their children, both by example and by involving the family in grantmaking. Some choose a donor advised fund to facilitate the philanthropic endeavors of their business. Donors benefit from the Foundation staff's knowledge of the needs and opportunities for giving in East Tennessee.
Funds may be endowed for the future or nonendowed. Next and future generations can be named as successor advisors to provide opportunities for teaching the importance of philanthropy.
A donor advised fund is best suited for:
- One who wants to have access to Foundation staff expertise and experience with the region's nonprofit organization needs and opportunities
- One who wants to simplify giving and would prefer having fewer gift receipts each year and making grants through one fund
- One who has an appreciated asset (real property, securities, etc.) to donate
- One whose income or giving fluctuates but who wants to maintain a certain level of grantmaking each year
- One who wants to teach philanthropy to children or grandchildren by example or involvement
- One who is considering creating a private foundation
- A business that wants to involve employees in philanthropy
The Foundation manages approximately 200 donor advised funds for individuals, families and businesses.
Donor advised funds have a required minimum of $10,000 to open and a maintained $5,000 minimum balance.