Donor Advised Funds
frequently asked questions:
A Donor Advised Fund (DAF) is a charitable giving investment vehicle that an individual, family, or business uses to make an irrevocable contribution of assets to a public charity (Triskeles Foundation).
A DAF can be started with an initial minimum gift of $5,000 [$1,000 for youth (under 18 years old) funds]. DAFs are administered through the Triskeles Foundation (a public charity).
We invest the assets of all the DAFs and make grants to charitable organizations upon the recommendations of the donors – as approved by the Triskeles Foundation Board.
A donor advisor is named by the donor to make grant recommendations on the account. The person(s) named as the advisor(s) to the account is/are often the donor him/herself or a spouse or child of mature age.
What is a Donor Advisor?
What is a SuccessorAdvisor?
The successor advisor is the person identified by the donor advisor to take over the account’s recommendation responsibilities after the original donor advisor’s/donor’s incapacity.
Multiple successors can be named to an account depending on the donor’s advisor’s wishes. Successors can name successors to take over in the event of their incapacity
Setting up a private foundation can involve substantial start-up costs and administrative expenses, such as the yearly filing of a Form 990-PF. But one of the most important differences is that a DAF at Triskeles Foundation receives more favorable tax treatment than a private foundation.
DAFs allow you to take an income tax deduction up to 60% of your adjusted gross income (AGI) for cash donations and up to 30% of your AGI for appreciated securities vs. 30% for cash donations and 20% for appreciated securities, respectively, for a private foundation.
Currently, once established, there are no gifts that must be made from your/the fund (by law), contrary to a private foundation which has a required minimum 5% annual payout requirement.
Why contribute to a Donor Advised Fund at Triskeles Foundation rather than directly to charity?
The ability to accept and process appreciated securities
Yes. The donor may choose any name acceptable to Triskeles Foundation for the fund.
Those seeking anonymity for some of their gifts usually choose a fund name that is not directly reflective of their family name. Regardless of the fund name, individual donor recognition is possible on a per gift basis.
Can a fund be named after someone besides the donor?
What types of assets can be contributed to a Triskeles Foundation Donor Advised Fund?
Cash, mutual funds and publicly traded securities that are eligible for DTC transfer can all be contributed to a DAF at the Triskeles Foundation.
In the case of other securities, your investment professional should be contacted, because the transfer might take longer, might involve additional cost, and/or involve special instructions.
Triskeles Foundation also may receive other kinds of assets to help fund a DAF. To discuss special situations please contact our office at 610.321.9876.
Publicly traded stocks can usually be liquidated on the same or next market day after the Triskeles Foundation receives them. Cash contributions and securities, after they are liquidated, are invested as quickly as possible.
If there is sufficient cash in the fund, gifts are dispersed once we receive the completed gift recommendation request from the donor, the approval from the Grants Committee of the Triskeles Board, and the necessary charitable information from the potential beneficiary.
The entire process can take anywhere from a few days to three weeks.
How quickly are contributions processed?
Donor advisors may recommend grants to qualified charitable organizations by completing and submitting a grant recommendation request to Triskeles Foundation which includes the information necessary to process the request.
The Triskeles Foundation will then verify the charitable organization as an eligible entity to receive the grant using the approved charity guidelines, and complete action on the recommendation.
Grants can be made to charitable organizations that are tax-exempt under Internal Revenue Code Section 501(c)(3) and public charities under IRS Section 509(a) within the context of Triskeles’ mission and values.
Grants can be made to private operating foundations but cannot be made to private non-operating foundations.
Triskeles Foundation does make international gifts on behalf of donors within the limits of the law.
What charities and nonprofits are eligible to receive grants from a Donor Advised Fund?
How many grants can be made in a year?
Triskeles Foundation does not limit the number or dollar amount of grants made out of a Donor Advised Fund.
What are the fund minimums and fees?
Ready to get started?
We make it easy in 3 short steps that can all be completed online right now (you can even immediately fund your Donor Advised Fund via credit or debit card and electronically sign your fund agreement) Let's do this!