Donor-Advised Funds Clause Samples

The Donor-Advised Funds clause outlines the terms under which contributions are made to a charitable fund where the donor retains advisory privileges over the distribution of those funds. Typically, this clause specifies how donors can recommend grants to specific charities, the process for submitting recommendations, and any limitations or requirements imposed by the fund administrator. Its core function is to provide a structured mechanism for donors to influence charitable giving while ensuring compliance with legal and organizational guidelines.
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Donor-Advised Funds. (continued) Successor Advisor Information for Individual Donors Successor Advisor 1 Successor Advisor 2
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Donor-Advised Funds. Administrative fee
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Donor-Advised Funds. As a community foundation, TSDF may establish for its donors a “donor advised fund,” which is separately identified by reference to the donor or donors. The fund is owned and controlled by TSDF and the donor or persons appointed by the donor have the privilege of providing advice with respect to the fund’s investments or distributions. TSDF has final authority over the distribution of all grants from its donor advised funds, and reserves the right to decline or modify a grant recommendation that is not consistent with these policies or TSDF’s charitable purposes. Gifts to a donor advised fund are irrevocable.
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Donor-Advised Funds. Today, donor-advised funds (DAFs) are one of the fastest-growing areas of charitable gifting and are subject to the requirements under sections 4966 and 4967 of the Code. DAFs provide donors with the flexibility of gifting with an immediate tax advantage while deferring grant distributions to selected charities over time. The following are CCF-LA’s procedures for administering DAFs: a. Permanent and Nonpermanent DAFs. Our clients have the option of a permanent DAF, which functions like an endowment, preserving the corpus with spending guidelines to make grants in perpetuity to the intention for which the fund was established, and a nonpermanent DAF, which is designed much like a charitable-giving checkbook to fund the near-term grants intended.
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Donor-Advised Funds. A Donor-Advised Fund is a separate fund or account, usually established by a single donor or family and often bearing the donor’s name. WCCF owns and manages the assets contributed by the donor, and exercises control over distributions from the Donor- Advised Fund, but the donor may retain advisory privileges, or appoint advisors with advisory privileges, to make recommendations with respect to distributions. See Rules for Advisors in the attached Terms & Conditions. Donor-Advised Funds are appropriate for donors who want to participate actively in grant- making, or to create a vehicle for family philanthropy by appointing children and grandchildren as fund advisors. Donor-Advised Funds provide an efficient alternative to the complexities of establishing and operating private foundations. WCCF may assist donors and fund advisors in identifying possible grant recipients, verifying the charitable status and mission of possible recipients, and monitoring the use of grants by those organizations. Distributions from Donor-Advised Funds will be made to qualified 501c3 organizations or other charitable organizations and may not be made to an organization for the benefit of a specified individual. Distributions may not be made to satisfy a pledge or other legal obligation of a donor, advisor, or related party. Donors, advisors, and related parties may not receive any tangible benefits, goods, or services. Distributions may not be made to provide grants, loans, compensation or similar payment to donors, advisors or related parties. All distributions from Donor-Advised Funds must comply with WCCF’s operating procedures for Donor-Advised Funds. WCCF administers all Donor-Advised Funds in compliance with the requirements of the Internal Revenue Service. WCCF’s Board maintains full authority and control regarding Donor-Advised Fund assets and grant distributions.
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Donor-Advised Funds. Donors establish advised funds when they wish to actively participate in the grant activity of the fund. Donors of advised funds may offer recommendations to the Foundation regarding the recipients and amounts of grants from the fund. Donors may name children or other designees to succeed them as advisors. Advised funds provide the maximum tax benefits while ensuring donor involvement over generations. They are an excellent alternative to operating a Private or Family Foundation. Upon the death of the last designated successor advisor, an Advised fund becomes a Discretionary fund or Field of Interest fund within the Foundation, with the annual grant allocations determined thereafter by the Board of Directors.
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Related to Donor-Advised Funds

  • Investment Adviser and Investment Sub-Adviser The Trustees may in their discretion, from time to time, enter into an investment advisory or management contract or contracts with respect to the Trust or any Series whereby the other party or parties to such contract or contracts shall undertake to furnish the Trust with such management, investment advisory, statistical and research facilities and services and such other facilities and services, if any, and all upon such terms and conditions, as the Trustees may in their discretion determine. Notwithstanding any other provision of this Trust Instrument, the Trustees may authorize any investment adviser (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales or exchanges of portfolio securities, other investment instruments of the Trust, or other Trust Property on behalf of the Trustees, or may authorize any officer, employee, agent, or Trustee to effect such purchases, sales or exchanges pursuant to recommendations of the investment adviser (and all without further action by the Trustees). Any such purchases, sales and exchanges shall be deemed to have been authorized by the Trustees. The Trustees may authorize, subject to applicable requirements of the 1940 Act, the investment adviser to employ, from time to time, one or more sub-advisers to perform such of the acts and services of the investment adviser, and upon such terms and conditions, as may be agreed upon between the investment adviser and sub-adviser. Any reference in this Trust Instrument to the investment adviser shall be deemed to include such sub-advisers, unless the context otherwise requires.

  • Investment Sub-Advisory Services Subject to the supervision of the applicable Corporation’s Board of Directors (“Board”) and the Adviser, the Sub-adviser shall act as the investment sub-adviser and shall supervise and direct the Fund’s investments as specified by the Adviser from time to time, and in accordance with the Fund’s investment objective(s), investment strategies, policies, and restrictions as provided in the Fund’s Prospectus and Statement of Additional Information, as currently in effect and as amended or supplemented from time to time (hereinafter referred to as the “Prospectus”), and such other limitations as the Fund or Adviser may impose by notice in writing to the Sub-adviser. The Sub-adviser shall obtain and evaluate such information relating to the economy, industries, businesses, securities markets, and securities as it may deem necessary or useful in the discharge of its obligations hereunder and shall formulate and implement a continuing program for the management of the assets and resources of each Fund allocated to the Sub-adviser in a manner consistent with the Fund’s investment objective(s), investment strategies, policies, and restrictions. In furtherance of this duty, the Sub-adviser, on behalf of each Fund is authorized to: (1) make discretionary investment decisions to buy, sell, exchange, convert, lend, and otherwise trade in any stocks, bonds, and other securities or assets; (2) place orders and negotiate the commissions for the execution of transactions in securities or other assets with or through such brokers, dealers, underwriters or issuers as the Sub-adviser may select or instruct the Affiliated Trading Desk (as defined below) to do so on behalf of the Subadviser, as applicable; (3) vote proxies, exercise conversion or subscription rights, and respond to tender offers and other consent solicitations with respect to the issuers of securities in which Fund assets may be invested provided such materials have been forwarded to the Sub-adviser in a timely fashion by the Fund’s custodian; (4) instruct the Fund custodian to deliver for cash received, securities or other cash and/or securities instruments sold, exchanged, redeemed or otherwise disposed of from the Fund, and to pay cash for securities or other cash and/or securities instruments delivered to the custodian and/or credited to the Fund upon acquisition of the same for the Fund; (5) maintain all or part of the Fund’s uninvested assets in short-term income producing instruments for such periods of time as shall be deemed reasonable and prudent by the Sub-adviser, including any other internal money market or short-term bond fund available for use only by clients of the Adviser and certain of its affiliates; and (6) generally, perform any other act necessary to enable the Sub-adviser to carry out its obligations under this Agreement or as agreed upon with the Adviser. The Adviser agrees that Subadviser may delegate trading execution and related reporting functions to the trading desk of an affiliate (“Affiliated Trading Desk”).

  • Investment Adviser The Buyer is an investment adviser registered under the Investment Advisers Act of 1940.

  • Sub-Investment Advisers The Adviser may employ one or more sub-investment advisers from time to time to perform such of the acts and services of the Adviser, including the selection of brokers or dealers to execute the Trust's portfolio security transactions, and upon such terms and conditions as may be agreed upon between the Adviser and such sub-investment adviser and approved by the Trustees of the Trust, all as permitted by the Investment Company Act of 1940.

  • Services as Investment Adviser Subject to the supervision and direction of the Board of Trustees of each Series and Fund, the Adviser will (a) act in strict conformity with the Funds' Agreements and Declarations of Trust, the Investment Company Act of 1940 (the "1940 Act") and the Investment Advisers Act of 1940, as the same may from time to time be amended, (b) manage such Series' or Fund's assets in accordance with such Series' or Fund's investment objective and policies as stated in the Funds' Prospectuses and SAIs, (c) make investment decisions for such Series or Fund, (d) place purchase and sale orders for securities on behalf of such Series or Fund, (e) exercise voting rights in respect of portfolio securities and other investments for such Series or Fund, and (f) monitor and evaluate the services provided by such Series' or Fund's investment sub-adviser(s), if any, under the terms of the applicable investment sub-advisory agreement(s). In providing those services, the Adviser will provide investment research and supervision of such Series' or Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Series' or Fund's assets. In addition, the Adviser will furnish each Series and Fund with whatever statistical information such Series or Fund may reasonably request with respect to the securities that such Series or Fund may hold or contemplate purchasing. Subject to the approval of the Board of Trustees of each of the Series Funds and where required, such Series Fund's shareholders, the Adviser may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Series and may delegate to such investment sub-adviser(s) the responsibilities described in subparagraphs (b), (c), (d) and (e) above. In the event that an investment sub-adviser's engagement has been terminated, the Adviser shall be responsible for furnishing such Series with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Series and the Series' Board of Trustees and subject to the requirements of the 1940 Act.