FAQ's for Donor Advised Funds

The Foundation charges an annualized administrative fee for Donor Advised Funds. Investment fees are set by our fund managers and are approximately 1.25% of the fund’s market value.

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.

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.

We use a total return spending policy based on the Fund's market value averaged over twenty trailing quarters.

Yes. Once a Fund is created, additional gifts of any amount may be contributed to it at any time.

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.

You may elect to recommend grants at once or throughout the year. Grant recommendations are approved at Board of Directors meetings (except May). The final year end grants should be suggested by early December in order to be presented for a vote.

Yes; we may award grants to any qualified charitable organization in the United States and beyond.

A grant recommendation can be made in the following ways:

1. By using DonorCentral - This secure web portal is for the exclusive use of Donor Advisors. DonorCentral allows donors to make grant recommendations and access fund information including gift and grant history, pending grants, and ending monthly balances. Contact Donor Services at donorservices@greaterworcester.org for login and password information.
2. By downloading and completing a donor recommendation form [DOC]. This form can be saved to your computer for future use. Complete the form and either email to donorservices@greaterworcester.org or print and mail directly to the Foundation for processing.

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. All grant checks are mailed directly to the charity.

Yes, we can. Our Program Officers will be happy to share their knowledge with you and assist you in any way possible.

Yes; we will accommodate your needs for anonymity in our annual report and in grantee correspondence, as you wish.

The Fund will continue to grant 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 permanently 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 [PDF].