An easy way to think about a donor advised fund is like a charitable savings account. The donor contributes to the fund as frequently as they like and then recommends grants to their favorite charities when they are ready.

 

• Contributions to the fund may be made using cash, publicly traded securities or other property.

 

• Up to three advisors and three successor advisors to the fund may be named when establishing a fund.

 

• Grants from the fund must be for charitable purposes.

 

• Advisors may recommend grants to any 501(c)(3) organization other than private foundations, and to most units of government (e.g. public schools, colleges and universities, town and municipal governments, police departments, etc.)

 

• Pella Community Foundation suggests at least 50% of the total grants in any year be made to organizations or units of government which fulfill the Foundation's mission to preserve the heritage and enhance the quality of life for the people of Pella.

 

• A fund can be established with as little as $100.00.  But the fund must reach a balance of $10,000.00 before grant can be made.

 

• Gifts to the fund are irrevocable.

 

• The assets of the donor advised fund are owned and invested by the Foundation.