Although a Donor Advised Fund, which is becoming a more and more popular charitable planning tool, can be established through a national financial institution, choosing to open a fund at local community foundation offers individuals, families and businesses much broader services, more personal attention, and deeper connections to local organizations whose work is essential to effecting positive change in our community. Many attorneys, accountants, and financial advisors are simply not aware that a Donor Advised Fund established at the Omaha Community Foundation is in many cases a far better fit for their clients than a fund held at a “commercial gift fund.”
As you meet with your clients, be sure to ask whether they’ve established a Donor Advised Fund, and if so, where it is administered. If a client’s fund is not at a community foundation, please give us a call. We would be happy to talk with you and your client about the ease and benefits of moving the fund to the Omaha Community Foundation.
The Omaha Community Foundation offers fundholders the same tax and administrative benefits as a commercial gift fund, including:
Online access to the fund to view balances, contributions, and grants
Simple process for recommending grants to favorite nonprofits and community initiatives
Streamlined tax reporting, often represented by just one letter to provide to an accountant at tax time, even when the fund is used to support dozens of individual nonprofits throughout the year
All back-office administration, tax receipts, recordkeeping, and other requirements for the Donor Advised Fund’s 501(c)(3) status
Favorable tax-deductibility of contributions to the fund
Above and beyond standard commercial gift funds, the Omaha Community Foundation offers high-level, customized services to our fundholders, including:
Concierge-level, in-person service provided by knowledgeable staff who live and work in our community
Acceptance of appreciated stock or complex assets such as real estate or closely-held stock
Ability to have your giving fund managed by your existing financial advisor
In-house experts who have a finger on the pulse of community needs, the strengths of specific nonprofits, and how to structure grantmaking for the highest possible community benefit
Opportunities to collaborate with other donors who care about similar issues and forums to tap into local and national subject matter experts
Family and corporate giving services to foster a well-rounded, holistic approach to charitable giving
Hands-on assistance from local experts who understand both local and national needs, and welcome the opportunity to research and identify causes aligned with donors’ goals and priorities
Keep an eye out for clients’ Donor Advised Funds at commercial gift funds. You’ll be doing a tremendous service for your client, and you’ll be helping the local community.
