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DONOR ADVISED FUND AGREEMENT (EXPENDABLE) SECTION A: LEGAL AGREEMENT This document establishes a Donor Advised Fund (DAF) within the Community Foundation of Tompkins County, a nonprofit public charity

How to fill out donor advised fund agreement

How to fill out a donor advised fund agreement:

1. Start by obtaining the donor advised fund agreement form. This form is typically provided by the organization or institution that manages the donor advised fund.
2. Read the instructions carefully. The donor advised fund agreement form may have specific guidelines or requirements that you need to follow. Make sure you understand the terms and conditions outlined in the agreement.
3. Fill in your personal information. The form will ask for details such as your name, address, contact information, and Social Security number. Provide accurate and up-to-date information to ensure the proper administration of your donor advised fund.
4. Specify the fund's purpose. Indicate the intended purpose of your donor advised fund. This can include supporting specific charitable causes, funding educational programs, or any other philanthropic goals you may have.
5. Determine the investment strategy. Some donor advised fund agreements allow you to direct the investment of the funds within the account. Decide whether you want to invest the funds conservatively, aggressively, or in accordance with the organization's predetermined investment options.
6. Designate additional advisors. If you wish to involve other individuals in the administration of your donor advised fund, provide their names, contact information, and any specific permissions or limitations regarding their involvement.
7. Determine the payout frequency. Decide how often you want the donor advised fund to distribute grants to charitable organizations. Some individuals prefer regular distributions, while others may choose to accumulate funds for larger contributions over time.
8. Review and sign the agreement. Carefully review the completed donor advised fund agreement to ensure accuracy and compliance with your intentions. Once satisfied, sign the form and submit it to the appropriate organization or institution managing your donor advised fund.

Who needs a donor advised fund agreement?

1. Individuals or families with philanthropic aspirations: A donor advised fund agreement is beneficial for individuals or families who wish to have a structured approach to their charitable giving. It allows them to contribute to the fund and have an ongoing involvement in the distribution of the funds to charitable organizations.
2. High net worth individuals: Donor advised funds are often utilized by high net worth individuals as a tax-efficient way to donate sizable amounts of money. The fund can be established with a significant contribution, and the individual can take an immediate tax deduction while retaining the ability to recommend grants from the fund at a future date.
3. Charitable organizations: Some charitable organizations utilize donor advised funds to receive contributions from donors. By establishing agreements with individuals or families, these organizations can receive ongoing support and engage donors in the selection of grant recipients.

In conclusion, filling out a donor advised fund agreement involves obtaining the necessary form, carefully reading and understanding the instructions, providing personal information, specifying the fund's purpose and investment strategy, designating additional advisors, determining the payout frequency, reviewing and signing the agreement. Individuals or families with philanthropic aspirations, high net worth individuals, and charitable organizations are among those who may benefit from a donor advised fund agreement.

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