Options for Structuring a Fund at the Catholic Community Foundation or Creating a Private Foundation

Donor Advised Fund at CCF Private Foundation
Minimum Assets
  • $10,000+
  • No minimum.
Governance
  • GSCF Board of Trustees.
  • Donor may recommend grants from the fund.
  • Independent corporation with its own Board of Trustees.
Administration
  • CCF handles accounting, audit, check cutting.
  • 1% administrative contribution assessed annually based on the average daily balance of the fund ($10,000 maximum)
  • Can be anonymous; no public disclosure of fund’s activities
  • Independent infrastructure created and overseen by Trustees.
  • All costs—staff, audit, compliance, legal, etc.—are responsibility of the private foundation.
  • Detailed public disclosure annually on IRS 990PF.
Investment
  • CCF portfolio or, upon request and approval of the Foundation, an approved outside manager (requires a larger minimum investment)
  • Investment management fees charged to the fund (average .14 -.16 basis points).
  • No possibility of donor control over investment.
  • Investment vehicles selected and overseen by Board of Trustees.
  • Subject to Uniform Management of Institutional Funds Act.
  • Investment management fees are responsibility of the private foundation.
Funding Limits and Tax Consequences
  • Cash gifts: 50% of AGI.
  • Capital gain property: 30% of AGI.
  • All capital gain property deductible at current value.
  • 5-year carry-over available.
  • No tax on investment income.
  • Cash gifts: 30% of AGI.
  • Capital gain property: 20% of AGI.
  • Publicly traded securities deductible at current value.
  • Privately held stock and other assets deductible at basis.
  • 5-year carry-over available.
  • 2% excise tax on investment income.
*Fiduciary Control
  • CCF Board of Trustees.
  • Donor recommends grants; approval required by HCF.
  • Board of Trustees.
  • Subject to **IRS Regulations.
Visibility
  • Fund name/donor acknowledged in grant letters.
  • Fund listed in CCF annual report, and on its Web site
  • Optional anonymity.
  • Assistance with public grant announcements, if desired.
  • Desire for degree of visibility determined by Board of Trustees.
  • Issues own grant guidelines and annual reports.
Grantmaking Process
  • CCF provides due diligence review of grantees recommended by donor.
  • Grant checks ordinarily sent in 2-30 days.
  • Research on specific nonprofits upon request.
  • Option to distribute grants from income and principal.
  • Subject to screening, evaluation and approval by Board of Trustees.
  • Restrictions on “self dealing.”
  • Annual minimum payout 5% of assets.
Grantmaking Focus
  • Broad flexibility across nonprofit sector, including religion, the arts, education, health & human service, etc.
  • Restrictions on grants to support lobbying.
  • Determined by Board of Trustees.
  • Restrictions on scholarship and research grants.
  • Prohibition against grants to support lobbying.
 
RocketTheme Joomla Templates