Berkshire Taconic Community Foundation

Donor Advised Funds

With a donor advised fund, you may play an active role in grantmaking, recommending charities you want to benefit.

You receive an immediate charitable income tax deduction. You may make tax-deductible contributions to the fund and recommend grants whenever your wish, with Berkshire Taconic handling all investment and administrative details.

You may also appoint others, such as your children or grandchildren, to serve as advisors—thereby building a legacy of family giving.

Minimum to open a donor advised fund: $10,000

Grants

The process of recommending grants from a donor advised fund is simple and can be done at any time. You submit the name of the organization, the grant amount (minimum $100) and how you want to be acknowledged or if you wish to remain anonymous. We exercise due diligence to ensure the Internal Revenue Service recognizes the organization as a legitimate charity, issue a check to the organization and send you a notification.

Investments

When you open your fund, you may select from one or a combination of our three investment pools. Our Investment Committee meets at least four times a year and monitors all investment activity. Our administrative staff, led by Jill Gellert, vice president of finance and adminstration, provides day-to-day oversight.

Any investment growth within the fund provides additional tax-free capital for grants to your favorite charities.

Fees

Each charitable fund pays an administrative fee, which help support our wide range of services and community work. The fees are assessed directly to the fund.

Administrative fees are charged quarterly based on the average daily balance of the fund (minimum fee is $87.50 per quarter).

The administrative fees for donor advised funds are:

1.5 % per year on first $250,000
1.25% per year on portion $250,000—$1 million
1.0% per year on portion $1 million—$3 million
0.75% per year on portion above $3 million or 3% of grants given out in a quarter, whichever is higher

To talk to us about starting a donor advised fund, contact Nancy Hegy Martin, development director, at nmartin@berkshiretaconic.org or 413.528.8039.