How much control and freedom would my client have in recommending gift recipients, including faith based organizations such as their church or synagogue, through their donor advised fund?
Your client can recommend a grant to any organization that falls within the broad philanthropic mission of the Community Foundation and is qualified as a public charity under Section 501(c)(3) of the Internal Revenue Code which includes most faith based programs. The United States has over 650,000 IRS-approved charities. The Community Foundation will ensure that groups recommended for a grant meet this requirement. In complying with federal tax laws, and for the protection of your client, the Foundation must reject grant recommendations that would benefit an individual, fulfill a personal obligation, support a political campaign, or a private foundation.
