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  • 1.  Endowed scholarship funded by DAF

    Posted 02-26-2025 02:39 PM

    Hi,

    I know that a pledge cannot be made and then paid for by a DAF. However, we had a constituent just sign a gift agreement to endow a scholarship in their name and the funds arrived the next day through Fidelity Charitable (I was not made aware this was being funded by a DAF). What are the next steps I should take? Should I ask the individual to ask his DAF to sign a revised scholarship agreement? Can I keep the one signed by the individual (not the DAF) but note that the funds arrived through Fidelity? Thank you and sorry if this has already been covered. 
    Best,

    Kelly



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    Kelly Hallock
    Warren Wilson College
    khallock@warren-wilson.edu
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  • 2.  RE: Endowed scholarship funded by DAF

    Posted 02-26-2025 02:49 PM
    Kelly, I always contact the DAF in circumstances like this as a courtesy. After all, it is their money, and they should at least have the first right of refusal regarding someone else receiving credit for their gift.

    In the past, I have encountered five DAFs who did not agree to the naming even when no pledge was involved. Their concern was the binding gift agreement (which essentially acts like a pledge).

    You can call or write to Fidelity and affirm that their gift was used not to satisfy a "pledge." However, I'd mention that the underlying gift agreement did not reference Fidelity and ask if that's okay with them.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


  • 3.  RE: Endowed scholarship funded by DAF

    Posted 02-27-2025 08:58 AM
    Thank you John!




    Original Message


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