Employ the Giving Power of a Private Foundation
A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to the University of Montevallo and other qualified charities. You can recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts. You can also create a lasting legacy by naming the University of Montevallo as the beneficiary of the entire account or a percentage of the fund. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to charitable organizations. Contact your fund administrator for a beneficiary form.
Where to find donor advised funds.
Begin with your local community foundation and other supporting nonprofit organizations. Commercial brokerage houses also offer a growing number of national donor advised funds.
Evaluate the sponsoring organization carefully.
When you make a gift to a donor advised fund you irrevocably give away your money or property. Make sure the organization you select is one that supports your values.
Consider costs and investment results.
All donor advised funds charge administrative fees that can vary considerably. In addition, investment performance will vary from one donor advised fund to the next, affecting the amount that will actually be distributable to a charitable organization.
A wealth advisor or other advisors specializing in tax and estate planning will be able to provide advice specific to your priorities and can be a valuable source of information in making the right choice for your situation.
