Frequently Asked Questions about Donor Advised Funds

What are the fees for having a Donor Advised Fund?
The Foundation charges an annualized administrative fee for Donor Advised Funds. Investment fees are set by our fund managers and are approximately 0.84% of the fund’s market value.

Is there a minimum or maximum size for a Fund?
The minimum size for a Named Fund is $10,000. There is no maximum; we have funds that are quite large, more than $15 million.

Is the Fund permanent?
The agreement you sign when you establish the Fund governs whether invasion of principal is permitted. We allow you to establish either a permanent or an unrestricted fund. We request that a minimum of $10,000 be maintained in the Fund since the Foundation's mission is to build lasting endowments.

If my Fund is permanent, how much is available for grants?
We use a total return spending policy based on the Fund's market value averaged over twenty trailing quarters.

Once the Fund is established may I or others make additional gifts to it?
Yes. Once a Fund is created, additional gifts of any amount may be contributed to it at any time.

How often will I receive information about the Fund?
You will receive financial information about your Fund on a quarterly basis, unless you request otherwise. You will receive notification about grants paid at the time it occurs and you may elect to receive correspondence that we receive from the charity.

How often may I make grant recommendations from my Fund?
You may elect to recommend grants at once or throughout the year. Grant recommendations are approved at monthly Board of Directors meetings (except August and May). The final year end grants should be suggested by early December in order to be presented for a vote.

How do I make grant recommendations?
To recommend a grant, you complete a Donor Recommendation Form by mail, fax or email to our Grants Manager.

Is there a minimum grant amount?
Yes, $100.

May I recommend grants to organizations outside Worcester County?
Yes; we may award grants to any qualified charitable organization in the United States and beyond.

Are there restrictions on the types of grants I can make from my Donor Advised Fund?
Grant recommendations must be for a charitable purpose. We can accommodate most grant recommendations. By law, you cannot suggest a grant to fulfill a charitable pledge, pay for a membership, buy a ticket to a charitable event, or anything for which you receive a personal benefit.

Can you send me the grant check to give to the charity?
No.

If I have questions about a particular charity or want to find an effective organization working in an area of interest, can you help me?
Yes, we can. Program Officers will be happy to share their knowledge with you and assist you in any way possible.

I don't want a charity to know I made a gift. Can I be anonymous?
Yes; we will accommodate your needs for anonymity in our annual report and in grantee correspondence, as you wish.

What happens to my Donor Advised Fund after I die?
We hope that the Fund will continue after your lifetime. You are invited to name up to one generation of successor advisors; this may be a family member or others whom you name to serve as donor advisor after your lifetime. After that, the Fund is typically maintained as a permanent endowed in your name. It may continue to support the causes and organizations you cared for during your lifetime. Alternately, you have the option of suggesting that the Fund be used for changing community needs or for a particular area of interest. To let us know your preferences, please complete and return the instruction form.