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Anyone have experience with gifts from a philanthropic LLC, are they handled similarly to a Donor Advised Fund? We are working on a gift agreement with a donor whose funds will come from the LLC they set up. I'm trying to determine who has authority to sign the agreement and how the gift will be acknowledged. Thanks for your help! Lisa -- *Lisa Ziska-Marchand, M.S.* *Director of Prospect Research & Advancement Services* *California State University, Monterey Bay* *(831) 582-3363*

Pretty much spot-on. Lisa, here's perhaps more than you wanted to know - but a good resource nonetheless: https://charitylawyerblog.com/2015/12/15/llcs-as-philanthropic-vehicles/ 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 Tue, Jun 11, 2019 at 6:02 PM Valerie Nguyen <vnguyen@csudh.edu> wrote: > From what I basically understand, an LLC has its own tax id and has at > least an owner and it must be registered with the IRS, just as individual > has unique SSN. So, the owner of the LLC should be signing the agreement > and acknowledged. > > > > *Valerie M. Nguyen* > > *Director of Advancement Services* > > California State University, Dominguez Hills > 1000 E. Victoria Street, WH-B465A > Carson, California 90747 > T: (310) 243-2673 | C: (310) 489-7378 > > E: *vnguyen@csudh.edu <vnguyen@csudh.edu>* > > *www.csudh.edu/ua/advancement-services > <http://www.csudh.edu/ua/advancement-services>* > > LinkedIn: https://www.linkedin.com/in/valeriemnguyen/ > > > > *[image: cid:image003.jpg@01D3E3CA.738373D0]* > > > > *Proud member of the Association of Advancement Services Professionals * > *www.advserv.org* > <https://urldefense.proofpoint.com/v1/url?u=http://www.advserv.org&k=6JSkda1SE0Yss6Wblf1qjA%3D%3D%0A&r=E5nya9TBDdcm5nMCqVfv5GvWzazKAi4OhketEPwnPqg%3D%0A&m=EiTrAtOWj642XyUqCO0P5bjfP9ek627BfaXY1ikGSXM%3D%0A&s=5d8c0bb220fbc46013b7a8d150800b6664d3cfeca1a9ad985a167ce4dbf4d982> > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *Lisa Ziska-Marchand > *Sent:* Tuesday, June 11, 2019 2:52 PM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* [FUNDSVCS] Philanthropic LLC > > > > Anyone have experience with gifts from a philanthropic LLC, are they > handled similarly to a Donor Advised Fund? We are working on a gift > agreement with a donor whose funds will come from the LLC they set up. I'm > trying to determine who has authority to sign the agreement and how the > gift will be acknowledged. > > > > Thanks for your help! > > > > Lisa > > > > -- > > *Lisa Ziska-Marchand, M.S.* > > *Director of Prospect Research & Advancement Services* > > *California State University, Monterey Bay* > > *(831) 582-3363* >

From what I basically understand, an LLC has its own tax id and has at least an owner and it must be registered with the IRS, just as individual has unique SSN. So, the owner of the LLC should be signing the agreement and acknowledged. Valerie M. Nguyen Director of Advancement Services California State University, Dominguez Hills 1000 E. Victoria Street, WH-B465A Carson, California 90747 T: (310) 243-2673 | C: (310) 489-7378 E: vnguyen@csudh.edu<mailto:vnguyen@csudh.edu> www.csudh.edu/ua/advancement-services<http://www.csudh.edu/ua/advancement-services> LinkedIn: https://www.linkedin.com/in/valeriemnguyen/ [cid:image003.jpg@01D3E3CA.738373D0] Proud member of the Association of Advancement Services Professionals www.advserv.org<https://urldefense.proofpoint.com/v1/url?u=http://www.advserv.org&k=6JSkda1SE0Yss6Wblf1qjA%3D%3D%0A&r=E5nya9TBDdcm5nMCqVfv5GvWzazKAi4OhketEPwnPqg%3D%0A&m=EiTrAtOWj642XyUqCO0P5bjfP9ek627BfaXY1ikGSXM%3D%0A&s=5d8c0bb220fbc46013b7a8d150800b6664d3cfeca1a9ad985a167ce4dbf4d982> From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Lisa Ziska-Marchand Sent: Tuesday, June 11, 2019 2:52 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: [FUNDSVCS] Philanthropic LLC Anyone have experience with gifts from a philanthropic LLC, are they handled similarly to a Donor Advised Fund? We are working on a gift agreement with a donor whose funds will come from the LLC they set up. I'm trying to determine who has authority to sign the agreement and how the gift will be acknowledged. Thanks for your help! Lisa -- Lisa Ziska-Marchand, M.S. Director of Prospect Research & Advancement Services California State University, Monterey Bay (831) 582-3363

Thank you Valerie, thank you John. Lisa On Tue, Jun 11, 2019 at 3:53 PM John Taylor <johntaylorconsulting@gmail.com> wrote: > Pretty much spot-on. > > Lisa, here's perhaps more than you wanted to know - but a good resource > nonetheless: > > https://charitylawyerblog.com/2015/12/15/llcs-as-philanthropic-vehicles/ > > 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 Tue, Jun 11, 2019 at 6:02 PM Valerie Nguyen <vnguyen@csudh.edu> wrote: > >> From what I basically understand, an LLC has its own tax id and has at >> least an owner and it must be registered with the IRS, just as individual >> has unique SSN. So, the owner of the LLC should be signing the agreement >> and acknowledged. >> >> >> >> *Valerie M. Nguyen* >> >> *Director of Advancement Services* >> >> California State University, Dominguez Hills >> 1000 E. Victoria Street, WH-B465A >> Carson, California 90747 >> T: (310) 243-2673 | C: (310) 489-7378 >> >> E: *vnguyen@csudh.edu <vnguyen@csudh.edu>* >> >> *www.csudh.edu/ua/advancement-services >> <http://www.csudh.edu/ua/advancement-services>* >> >> LinkedIn: https://www.linkedin.com/in/valeriemnguyen/ >> >> >> >> *[image: cid:image003.jpg@01D3E3CA.738373D0]* >> >> >> >> *Proud member of the Association of Advancement Services Professionals * >> *www.advserv.org* >> <https://urldefense.proofpoint.com/v1/url?u=http://www.advserv.org&k=6JSkda1SE0Yss6Wblf1qjA%3D%3D%0A&r=E5nya9TBDdcm5nMCqVfv5GvWzazKAi4OhketEPwnPqg%3D%0A&m=EiTrAtOWj642XyUqCO0P5bjfP9ek627BfaXY1ikGSXM%3D%0A&s=5d8c0bb220fbc46013b7a8d150800b6664d3cfeca1a9ad985a167ce4dbf4d982> >> >> >> >> *From:* Advancement Services Discussion List < >> FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *Lisa Ziska-Marchand >> *Sent:* Tuesday, June 11, 2019 2:52 PM >> *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG >> *Subject:* [FUNDSVCS] Philanthropic LLC >> >> >> >> Anyone have experience with gifts from a philanthropic LLC, are they >> handled similarly to a Donor Advised Fund? We are working on a gift >> agreement with a donor whose funds will come from the LLC they set up. I'm >> trying to determine who has authority to sign the agreement and how the >> gift will be acknowledged. >> >> >> >> Thanks for your help! >> >> >> >> Lisa >> >> >> >> -- >> >> *Lisa Ziska-Marchand, M.S.* >> >> *Director of Prospect Research & Advancement Services* >> >> *California State University, Monterey Bay* >> >> *(831) 582-3363* >> > -- *Lisa Ziska-Marchand, M.S.* *Director of Prospect Research & Advancement Services* *California State University, Monterey Bay* *(831) 582-3363*