DONOR CENTRAL REASONS TO GIVE CREATE A CHARITABLE FUND WAYS TO GIVE INVESTMENT PROGRAM ADMINISTRATIVE FEES
 
DONORS

Establishing your own named charitable fund does not require great wealth, and it isn't complicated. Plus,

  • You can provide ongoing support to your favorite organizations.
  • You can choose different non-profit organizations each year during your lifetime.
  • You can make your own choices or take advantage of our staff's expertise to help you address the community's most pressing challenges.
  • You have the opportunity to distribute gifts during your lifetime or to leave a lasting legacy or both.

The Foundation's legal name is the Greater New Orleans Foundation.


 

DONOR-ADVISED FUNDS FREQUENTLY ASKED QUESTIONS


Donor-advised funds have become increasingly popular in recent years. The Greater New Orleans Foundation has been offering donor advised funds for many years, helping connect donors to the nonprofits that are important to them. 

1)     What amount do I need to start a fund?
The minimum contribution needed to establish a donor-advised non-endowed fund is $1,000. Gifts of cash, stocks and a variety of other assets are acceptable.

You will receive a charitable contribution for the full amount of the gift in the year of the contribution. Additional contributions to the fund may be made in any amount, at any time. Others can also make contributions to your fund.

2)     Can I give stock?
Absolutely! Many donors find that a gift of appreciated stock is the most advantageous contribution because they receive a tax deduction based on the full market value of the shares, without realizing capital gains when the stock is sold by The Greater New Orleans Foundation.

3)     Who can act as a fund advisor?
Throughout your lifetime, you advise on the grantmaking activities of the named fund. You may also choose to designate your spouse or partner, your child, or another family member or friend as an advisor.

4)     Can I name a successor advisor to the fund?
Yes, you can name successor advisors to your fund.

5)     What can I name the fund?
Many donors use their family name.The named fund will appear in the Foundation's annual report. You also have the ability to remain anonymous.

6)     What are the costs involved in establishing a fund?
There is no cost to establish a fund at the Foundation. The fund is, in IRS language, a component fund of the Foundation. The Greater New Orleans Foundation files one return for all funds. The administrative fee schedule is based on the size and type of the fund.

7)     What is the minimum grant amount I can recommend?
To minimize administrative costs, GNOF requires grants of $100 or more.

8)     What are the restrictions on grantmaking?
By law, community foundations can only make grants for charitable purposes. GNOF makes grants to qualified tax-exempt 501(c)(3) charities that are public charities (not private foundations, etc.). The Foundation cannot make disbursements for the donor that fulfill a pledge or other legal obligations or that provide the donor with personal benefits (tickets, memberships, etc.).

9)     Do I have to make grants every year?  
You are under no obligation to make annual grant recommendations from the fund. However, remember that the mission of the Greater New Orleans Foundation and the purpose of donor-advised funds are to provide ongoing support for charitable activities.

10) How quickly will a grant be disbursed once I submit my recommendation?
Donor advised recommendations that are received by noon on Monday are mailed on Friday of the same week.