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New Fund Worksheet

GivingNew Fund Worksheet

Complete this Form to Open a Donor-Advised Fund at the Marin Community Foundation

Please complete this worksheet so we can help you open a donor-advised fund at the Foundation. We will use the information you provide to prepare a customized draft Fund Agreement for your review. This worksheet is also intended to help you think about various aspects of your charitable giving through the Foundation, which in turn will allow all of us to assist you in reaching your goals.

This worksheet is for opening a donor-advised fund only.

Required fileds marked with *

 

Section 1: About You

1. Contact information

Donor-advised funds may be established by one or more individual donors or by a business. The people you name below will serve as the official Fund Contacts — which means they will be able to provide advice to MCF, including submitting grant recommendations, and will receive all correspondence related to the fund, along with other Foundation materials. If a couple is opening a fund, each spouse/partner should provide the information requested below. Contact information will not be shared outside the Foundation.

Donor 1


( )

( )


( )

( )

Donor 2


( )

( )


( )

( )

 

2. Professional Advisor Information

Many people open donor-advised funds with advice from an attorney, accountant, financial advisor, or other professional. These individuals may also be involved in the transfer of assets into your fund. It is helpful for us to know who these advisors are. Contact information will not be shared outside the Foundation.

Advisor 1

Attorney CPA Financial Planner
Other


Advisor 2

Attorney CPA Financial Planner
Other


 

 

Section 2: About Your Fund

1. Naming Your Fund

The name of your fund is important. Unless you plan to recommend grants anonymously (more on that below), including your family name is appropriate — e.g., The Phil and Susie Smith Fund.

You may name your fund in memory or in honor of someone.

If you wish to remain anonymous consider naming your fund in a way that reflects your interests or a geographical reference, but not your name — e.g., The Tamalpais Fund. You may name your fund for your family and still recommend grants anonymously. Your grants would be listed in grantee and Foundation listings as "Anonymous Fund."

What do you want to call your fund?

 

2. Expendable or endowed?*

Endowments are permanent funds established to carry out the donor's philanthropic intentions in perpetuity. In essence, endowments are gifts that keep growing and giving. Assets are invested for growth, and the amount available for grants each year is based on a "spending rule" that currently distributes 5% of the Fund's market value annually.

Expendable funds permit grant distributions in any amount (minimum of $250 per grant) at any time.

An expendable fund may be converted to an endowment (usually upon the death of the original donor/s), but an endowed fund may not become expendable.

This fund is an endowment. It will make grant distributions in perpetuity.

This fund is expendable. It will make grant distributions until fund assets are exhausted, at which time the fund will terminate.

This fund is expendable during the lifetime(s) of the original donor(s). I/we wish the fund to become an endowment upon the death of the last original donor.

Other.   

 

3. How do you want to be recognized for your grantmaking?*

I want my name and the name of the fund known to grant recipients and published in any public listings of grants, including ones published by the Foundation and grantee organizations.

I do not want grant recipients to know grants are from me, but the name of the fund may be published in any public listings of grants (This option is appropriate when the name of the fund does not include a family name - e.g., The Tamalpais Fund.)

I want to make all grants anonymously. I want to remain anonymous both to grant recipients and in any public listings of grants.

I will let you know my preferences on a case-by-case basis. [Note: You will have an opportunity to indicate your preferences each time you recommend a grant.]

 

4. How do you want to be recognized for gifts you make to your fund?*

I do not want my name to be published in listings of contributors to funds at the Marin Community Foundation.

I would like my name to be included in the list of contributors to funds at MCF. [Actual gift amounts are not listed.]

 

5. How would you like us to handle mail from the groups you support?*

Please forward all first class correspondence from grantee organizations to the Street Address below:


Please do not forward any correspondence from grantee organizations.

 

6. Working with the Foundation*

Foundation staff is always available to help you with your grantmaking decisions. This can include doing research on groups and issues of interest to you, setting up site visits, and meeting with you to discuss your goals for your grantmaking. Please let us know your level of interest in these kind of services.

I/we already know our grantmaking interests and do not need these services.

I/we may occasionally need these services and will let you know when we do.

I/we are interested in meeting with someone at MCF to talk about my/our grantmaking interests.

 

7. Fund Statements*

Statements are issued quarterly. You may choose to receive them electronically only (through MCF Donor Express, the online tool for Fund Contacts to access information about and manage funds), or have them sent in the mail. Please indicate your preference:

We want to receive statements electronically

We want statements sent in the mail

 

 

Section 3: Gifts to Your Fund

1. Initial Gift*

When do you plan to make your initial gift?

Immediately

Through my estate

Other:

For immediate gifts, what do you plan to contribute?

Cash, in the amount of $

Real estate

Publicly traded securities

Privately held securities

Other:

* Note: If you plan on transferring publicly traded securities, please contact Lizzie Cairns, senior accountant, at 415.464.2514 or by email, or Aileen Sweeney, controller, at 415.464.2553 or by email for instructions on how to complete the transfer.

2. Investment Preference*

How your fund's assets are invested is determined by your grantmaking plans.

Endowment and other long-term funds (those with a time horizon of over five years) are usually invested 75% in equities and 25% in fixed-income instruments.

Expendable funds, from which the advisor expects to make substantial grants within five years or less, are usually invested in money market accounts.

How would you like the Fund's assets invested?

According to the Foundation's standard short-term investment plan (100% money market accounts).

According to the Foundation's standard long-term investment plan (75% equities and 25% fixed -income instruments).

According to the following investment plan (total should be 100%):

% MCF equity pool

% Socially-screened equity pool

% Fixed-income instruments

% Money market account

% Enhanced cash pool

% MCF Loan Fund

Note: Click here to find detailed information on MCF's investment options.

3. Additional Contributions to the Fund

If you intend to make additional gifts to the fund, please indicate how (check all that apply). You may contact Elizabeth Brown, vice president of Philanthropic Services, at 415.464.2517 or by email to discuss your gift options.

From personal assets (during lifetime)

Through my estate

From one or more planned gifts (e.g., charitable remainder trusts)

From family and friends

As a result of broad-based community fundraising efforts (please describe your plans on a separate sheet)

Other:

 

 

Section 4: The Future of Your Fund

Naming Successor Advisors

While some donors want the Foundation to continue making grant from the Fund to organizations or for purposes they specify, others view the Fund as an opportunity to help successive generations learn about and become involved in charitable giving. Please tell us about your plans.

I want to appoint Successor Advisors. You may designate individuals (for example, children) as Successor Advisors to recommend grants from the fund after your death, incapacity, or resignation as the Fund Advisor. Typically, donors suggest one generation of Successor Advisors.

Please provide contact information below:

Successor Advisor 1

( )

Successor Advisor 2

( )

Please contact us if you wish to name more than two Successor Advisors.

How much discretion do you want the Successor Advisor(s) to have in recommending grants?

Complete discretion. My successor advisor(s) may recommend grants to any qualified organization.

Limited discretion. [If you select this option, please provide information on your area(s) of interest in Question 2 below.*]

If you have named more than one successor advisor:

All successor advisors must agree on each grant recommendation. [If you select this option, please indicate the name of the Successor Advisor who will serve as the Fund Contact - i.e., the person who will be able to provide advice to the Foundation, including submitting grant recommendations, and will who receive all correspondence related to the fund, along with other Foundation materials]:

Each successor advisor may recommend grants on a pro rata share of the assets available for grants.

 

I do not want a Successor Advisor. Instead, I want grants from this fund to be made by the Foundation as follows:

Unrestricted. The Foundation may make grants where the needs are greatest in the community.

Area(s) of interest. If you select this option, please note your area(s) of interest:

To specific organization(s): If you select this option, you will have the opportunity to speak with your Philanthropic Advisor about the organizations you would like to recommend.

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Your Contact for Opening a Fund at MCF

Director of Philanthropic Planning

Brian Van Weele

Director of Philanthropic Planning

415.464.2515

"My relationship with MCF comes down to trust. My clients count on me, and I refer them to MCF because MCF has earned my trust."

Deborah Breiner
Estate Planning Attorney, San Rafael