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An Advised Fund is the simplest and most flexible way for donors to accomplish their charitable goals. The fund can be established in one tax-year and the donor can receive the benefit of an income tax deduction in that year. The fund can be the residual beneficiary of a trust, insurance policy or retirement account. Because the donor can give advice on distributions from the fund, the charitable benefit can continue into the future. For donors who establish permanent funds, the ability to recommend charitable grants from the fund can be continued to family members creating an opportunity for a charitable legacy. Advised Funds are exempt from the limitations and penalties associated with a private foundation. They are simple to establish because there are no legal documents to draft, and the Oklahoma City Community Foundation provides all of the administration, investment and reporting services. Donors are able to focus on the charitable benefit and not on the administrative details. By making the fund the charitable beneficiary in an estate plan, the donor can use the fund agreement to make changes in the charitable provisions without making costly and time-consuming changes in legal documents. Advised Funds give donors the flexibility to respond to changing needs and interests, to make distributions according to a time frame which is best for them, and to respond to opportunities and issues which may arise in the future. There are four types of Advised Funds which meet the needs of donors with different charitable goals and varying gift size.
Gift Funds- the most flexible vehicle for donors with a long-term time horizon. Express Funds - the easiest and quickest way to make year-end stock gifts. Affiliated Funds - for larger funds and foundations. To discuss establishing an Advised Fund, please contact Joe Carter at 405.606.2914 or Jennifer Stewart at 405.606.2912. (Return to the top). |
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©1999-2008 Oklahoma City Community Foundation. All Rights Reserved.
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Advised Funds