FAQs
How do I make gifts to a fund at GNOF?
Gifts to funds of the Greater New Orleans Foundation can be made in various forms — cash, checks, stocks & bonds, public and privately held securities and other forms of assets.
All checks should be made payable to the Greater New Orleans Foundation. Please write the name of the fund you wish the gift to be posted to in the memo line of your check. Contributions will be acknowledged to those persons or companies that appear on the check.
If you would like to make a wire transfer or gift of stock, real estate, art collections, bequests, etc., please feel free to contact Alice B. Parkerson, vice president of development, at (504) 598-1291.
Can I make a contribution online?
Yes. We are currently using Network for Good as an online giving tool. Please go to www.networkforgood.org. Remember to include the fund’s name.
How can I check the status of my fund?
The easiest way is to look in Donor Central, your personal online tool for managing the fund you have established. You may access your current fund balance, make grant recommendations, and very soon you will be able to research nonprofit organizations. You will also receive a quarterly or annual donor statement in the mail for your reference. You can always call the Foundation at (504) 598-4663 and ask for Alice B. Parkerson, manager of donor relations, who will be happy to answer any of your questions.
Whom should I contact if I have problems using GNOF Donor Central?
Please contact Alice B. Parkerson, manager of donor relations, at (504) 598-4663.
May I make changes to the Fund Agreement?
Yes. In most cases this can be done easily with a Fund Agreement Amendment, a document that reflects the intended language changes and is signed by you and an officer of the Foundation. Please contact Alice B. Parkerson to discuss any changes to your Fund Agreement.
May I give anything besides cash and publicly traded securities? How?
Yes. You may give real estate, closely held stock, an interest in a family business, and many other assets. All such gifts are reviewed individually. We will talk with you about the details of your proposed gift and the appropriate procedure for transferring the asset. We generally do not accept vehicles or livestock.
What information will be on my receipt?
In all cases the receipt will show the date the gift was received. If the contribution was a check, the dollar amount will also be shown. If the gift was in the form of securities, the receipt will list the securities transferred and the number of shares. We also provide the value of the stock at the time it was received into our account (or the date the physical stock was delivered to the Foundation). The value is based on the high and low average for the day of the stock multiplied by the number of shares, with appropriate disclaimers.
Charities are not permitted to value non-cash gifts, such as art work and real estate. It is the responsibility of the donor to obtain an independent, professional valuation.
Receipts for real estate and other non-cash gifts identify the property transferred. The IRS may require you to obtain an appraisal and to file a Form 8283 with your income tax return. We can provide you a Form 8283 on request.
How long does it take to process a gift?
Most gifts are processed within 5-7 business days of receipt. Publicly traded securities are typically sold upon receipt unless special circumstances dictate that the Foundation hold the stock for a period of time. Once sold, the proceeds are reinvested in the Foundation’s investment pools in accordance with the donor’s choices. Of course, the processing time for real estate, non-publicly traded securities and other unique gifts will take longer, depending on the nature of the gift and the liquidation plan.
Can I get a refund of a gift made to the Foundation?
All contributions, once accepted by the board of trustees, are an irrevocable contribution to the Greater New Orleans Foundation and are not refundable. However, if you want to terminate your fund, simply recommend grants in the amount of the fund’s entire balance, and we will then close the fund (provided the fund is not an endowment).
How do I recommend a grant from a donor-advised fund?
You may recommend a grant online using Donor Central. Or you may download a grant recommendation form and fax it to us at (504) 598-4676 or send an email to Alice B. Parkerson .
To whom may I recommend a grant?
Grants may be made to organizations that are recognized by the IRS as tax-exempt, charitable organizations and that meet the Foundation’s due diligence requirements.
May I make a grant to a specific individual?
You can recommend a grant to an individual only if that individual has been selected through an objective, predefined process and the grant is for a charitable purpose. An educational scholarship is an example of this type of grant.
May I make a pledge through my fund?
Although you may not fulfill a personal pledge through your fund, you may recommend that the Foundation make a multi-year grant from your fund to a nonprofit organization. Please talk to someone at the Foundation when you want to make this kind of contribution so we can help facilitate it.
May I make a grant through my fund for memberships in organizations such as booster clubs, the opera, or the Sierra Club?
In most cases, no. Since these kinds of memberships result in personal benefit to the donor (such as reduced fees for events), memberships cannot be funded by grants from donor-advised funds.
May I make a grant in memory or in honor of someone?
Yes. Just give us the contact information for the person you would like us to notify.
May I recommend grants outside of the Greater New Orleans region?
Yes. You may recommend grants anywhere in the U.S. and internationally to support a charitable organization. Special due diligence is conducted for international grants (see the FAQ on due diligence below).
May I recommend grants to private foundations?
To comply with IRS regulations, the Foundation cannot distribute grants to non-operating private foundations, even though they are 501(c)(3) organizations. However, grants may be made to private operating foundations (private foundations that use the bulk of their income to provide charitable services or to run charitable programs of their own).
What are GNOF’s due diligence requirements?
Due diligence is the process GNOF uses to ensure that organizations are qualified to receive grants and are capable of fulfilling your charitable intent. The due diligence process typically involves our reviewing the organization’s current 501(c)(3) tax-exempt letter as well as programmatic information.
For grants that are recommended outside the U.S., the Foundation uses expenditure responsibility requirements and follow all applicable domestic and international tax laws.
How long does it take to process a grant recommendation?
Grants to organizations the Foundation has supported in the past can be processed quickly, usually within ten business days.
Can you send me the grant check so I can deliver it to the nonprofit?
The Foundation sends checks directly to grantee organizations. You will, however, receive a copy of the letter that accompanies the check so you will know when it was sent.
What is the minimum grant amount?
The minimum grant amount is $100.
Does the Foundation have a spending rule, and if so, how does that apply to the grants I recommend?
Yes. The Foundation has a spending rule for funds established as endowments. It does not apply to non-endowed funds. The spending rule, a formula that determines the amount of money available for grantmaking from endowments, is based on a designated percentage of the fund’s fair market value. The Foundation’s current spending policy distributes 4 percent of an average 12-quarter market value annually. Based on historic stock and bond market performance, this allows the endowment fund to distribute grants in inflation-adjusted amounts in perpetuity.
What if I don’t know who to make grants to or want to know who is doing the best job in my area of interest?
We have excellent staff and extensive research capabilities that are available to help you. For example, we can help you learn about nonprofit groups that work in your areas of interest or do customized research on issues you are interested in. If you need assistance, please contact Alice B. Parkerson, manager of donor relations, by email or at (504) 598-4663.
Does the Foundation offer volunteer opportunities?
The Foundation recently completed its strategic plan and has shaped many new opportunities for donors in the community to participate in our competitive grantmaking process. The Grants Committee works with staff to make grants that meet donor’s interests and help to improve community in several key areas. The committees vary with each grant cycle. If you would like more information about serving on one of the many committees, please contact Alice B. Parkerson by email or at (504) 598-4663.
What if I need more information?
Contact Alice B. Parkerson by email or at (504) 598-4663.
