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  • 1.  Endowments through Donor Advised Funds

    Posted 03-06-2019 11:29 AM
    You should ask at the very least. Some community foundations and DAFs I have worked with have requested to be referenced in the endowment agreement, and a few have asked to sign the agreement. Those have been rare but often enough that it simply makes good sense - and is in keeping with good donor relations protocol - to ask first rather than ask for forgiveness later. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Mar 6, 2019 at 12:26 PM Katlyn Porter <kporter2@zanestate.edu> wrote: > Good afternoon, > > > > I have a donor who wishes to endow a scholarship at our Foundation through > her donor advised fund which is held by the local Community Foundation. > Since the Community Foundation would be the legal donor, should they be a > part of establishing the endowment gift agreement that is created for the > fund? We typically have the Community Foundation and the individuals who > recommended the funds to be sent to us all involved in the gift instrument > so we can ensure that all parties are on the same page and are in agreement > of how the funds should be spent. Is this correct? > > > > Thank you, > > > > *Katlyn Porter* > > Assistant Director of Advancement Services > > Zane State College Foundation > > 740.588.1374 > > *Celebrate 50 Years with Us <https://www.zanestate.edu/anniversary.html>* > > > > >


  • 2.  Re: Endowments through Donor Advised Funds

    Posted 03-06-2019 11:47 AM
    The short answer is you need to ask. The money was a legal gift from the DAF/Community Foundation. You have essentially followed their intent - even if they initially deferred to the individual. Many DAFs and Community Foundations have strict funding guidelines and you must make sure that they approve any redirection of THEIR gift. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Mar 6, 2019 at 12:39 PM Katlyn Porter <kporter2@zanestate.edu> wrote: > One more question that was raised. If the Community Foundation chooses to > not be a part of the endowment agreement, but the individual decides in 5 > years that they want to change the terms of their endowment for whatever > reason that we approve, can they if all the gifts have come directly from > the DAF? Wouldn’t we then need the Community Foundation’s approval to > change the terms anyway as long as there were no other outside donations to > the fund? I may be overthinking this. > > > > Thank you, > > Katlyn > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Wednesday, March 6, 2019 12:29 PM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Endowments through Donor Advised Funds > > > > You should ask at the very least. Some community foundations and DAFs I > have worked with have requested to be referenced in the endowment > agreement, and a few have asked to sign the agreement. Those have been > rare but often enough that it simply makes good sense - and is in keeping > with good donor relations protocol - to ask first rather than ask for > forgiveness later. > > > > John > > > > John H. Taylor > > Principal, John H. Taylor Consulting > > 2604 Sevier St. > > Durham, NC 27705 > > johntaylorconsulting@gmail.com > > 919.816.5903 (cell/text) > > > > Serving the Advancement Community Since 1987 > > > > > > On Wed, Mar 6, 2019 at 12:26 PM Katlyn Porter <kporter2@zanestate.edu> > wrote: > > Good afternoon, > > > > I have a donor who wishes to endow a scholarship at our Foundation through > her donor advised fund which is held by the local Community Foundation. > Since the Community Foundation would be the legal donor, should they be a > part of establishing the endowment gift agreement that is created for the > fund? We typically have the Community Foundation and the individuals who > recommended the funds to be sent to us all involved in the gift instrument > so we can ensure that all parties are on the same page and are in agreement > of how the funds should be spent. Is this correct? > > > > Thank you, > > > > *Katlyn Porter* > > Assistant Director of Advancement Services > > Zane State College Foundation > > 740.588.1374 > > *Celebrate 50 Years with Us <https://www.zanestate.edu/anniversary.html>* > > > > > >


  • 3.  Endowments through Donor Advised Funds

    Posted 03-06-2019 04:27 PM
    Good afternoon, I have a donor who wishes to endow a scholarship at our Foundation through her donor advised fund which is held by the local Community Foundation. Since the Community Foundation would be the legal donor, should they be a part of establishing the endowment gift agreement that is created for the fund? We typically have the Community Foundation and the individuals who recommended the funds to be sent to us all involved in the gift instrument so we can ensure that all parties are on the same page and are in agreement of how the funds should be spent. Is this correct? Thank you, Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation 740.588.1374 Celebrate 50 Years with Us<https://www.zanestate.edu/anniversary.html> [cid:image002.jpg@01D4D417.D50B4950]


  • 4.  Re: Endowments through Donor Advised Funds

    Posted 03-06-2019 04:32 PM
    Thank you, John! From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Wednesday, March 6, 2019 12:29 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Endowments through Donor Advised Funds You should ask at the very least. Some community foundations and DAFs I have worked with have requested to be referenced in the endowment agreement, and a few have asked to sign the agreement. Those have been rare but often enough that it simply makes good sense - and is in keeping with good donor relations protocol - to ask first rather than ask for forgiveness later. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Mar 6, 2019 at 12:26 PM Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: Good afternoon, I have a donor who wishes to endow a scholarship at our Foundation through her donor advised fund which is held by the local Community Foundation. Since the Community Foundation would be the legal donor, should they be a part of establishing the endowment gift agreement that is created for the fund? We typically have the Community Foundation and the individuals who recommended the funds to be sent to us all involved in the gift instrument so we can ensure that all parties are on the same page and are in agreement of how the funds should be spent. Is this correct? Thank you, Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation 740.588.1374 Celebrate 50 Years with Us<https://www.zanestate.edu/anniversary.html> [cid:image001.jpg@01D4D418.8DD90260]


  • 5.  Re: Endowments through Donor Advised Funds

    Posted 03-06-2019 04:39 PM
    One more question that was raised. If the Community Foundation chooses to not be a part of the endowment agreement, but the individual decides in 5 years that they want to change the terms of their endowment for whatever reason that we approve, can they if all the gifts have come directly from the DAF? Wouldn’t we then need the Community Foundation’s approval to change the terms anyway as long as there were no other outside donations to the fund? I may be overthinking this. Thank you, Katlyn From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Wednesday, March 6, 2019 12:29 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Endowments through Donor Advised Funds You should ask at the very least. Some community foundations and DAFs I have worked with have requested to be referenced in the endowment agreement, and a few have asked to sign the agreement. Those have been rare but often enough that it simply makes good sense - and is in keeping with good donor relations protocol - to ask first rather than ask for forgiveness later. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Mar 6, 2019 at 12:26 PM Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: Good afternoon, I have a donor who wishes to endow a scholarship at our Foundation through her donor advised fund which is held by the local Community Foundation. Since the Community Foundation would be the legal donor, should they be a part of establishing the endowment gift agreement that is created for the fund? We typically have the Community Foundation and the individuals who recommended the funds to be sent to us all involved in the gift instrument so we can ensure that all parties are on the same page and are in agreement of how the funds should be spent. Is this correct? Thank you, Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation 740.588.1374 Celebrate 50 Years with Us<https://www.zanestate.edu/anniversary.html> [cid:image001.jpg@01D4D419.81FA4340]


  • 6.  Re: Endowments through Donor Advised Funds

    Posted 03-06-2019 04:49 PM
    Thank you, this clears everything up! Katlyn From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Wednesday, March 6, 2019 12:47 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Endowments through Donor Advised Funds The short answer is you need to ask. The money was a legal gift from the DAF/Community Foundation. You have essentially followed their intent - even if they initially deferred to the individual. Many DAFs and Community Foundations have strict funding guidelines and you must make sure that they approve any redirection of THEIR gift. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Mar 6, 2019 at 12:39 PM Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: One more question that was raised. If the Community Foundation chooses to not be a part of the endowment agreement, but the individual decides in 5 years that they want to change the terms of their endowment for whatever reason that we approve, can they if all the gifts have come directly from the DAF? Wouldn’t we then need the Community Foundation’s approval to change the terms anyway as long as there were no other outside donations to the fund? I may be overthinking this. Thank you, Katlyn From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of John Taylor Sent: Wednesday, March 6, 2019 12:29 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Endowments through Donor Advised Funds You should ask at the very least. Some community foundations and DAFs I have worked with have requested to be referenced in the endowment agreement, and a few have asked to sign the agreement. Those have been rare but often enough that it simply makes good sense - and is in keeping with good donor relations protocol - to ask first rather than ask for forgiveness later. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Mar 6, 2019 at 12:26 PM Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: Good afternoon, I have a donor who wishes to endow a scholarship at our Foundation through her donor advised fund which is held by the local Community Foundation. Since the Community Foundation would be the legal donor, should they be a part of establishing the endowment gift agreement that is created for the fund? We typically have the Community Foundation and the individuals who recommended the funds to be sent to us all involved in the gift instrument so we can ensure that all parties are on the same page and are in agreement of how the funds should be spent. Is this correct? Thank you, Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation 740.588.1374 Celebrate 50 Years with Us<https://www.zanestate.edu/anniversary.html> [cid:image001.jpg@01D4D41A.F9B405F0]