© 2018 Community Venture Partners, Inc.

  • w-facebook
  • Twitter Clean

Donor Advised Funds

Open a DAF

Community Venture Partners offers donor advised funds (DAFs) to qualified individuals who seek to maximize the impacts of their charitable giving over time.

 

Please note: Donor Advised Fund services are temporarily unavailable for new accounts.

 

 

What are DAFS?

 

DAFs are arrangements by which an exempt organization establishes a separate fund to receive contributions from a donor. The donor receives a tax deduction for their contribution at the time the funds or assets are donated. The funds are then, over time, granted to various projects and charitable organizations. 

 

CVP DAF Benefits 

 

The CVP team thoroughly vets its projects and initiatives prior to presentation to donors to ensure that proposals best suit the funder's priorities. 

 

 

  • We select projects that meet the highest professional standards and pass rigorous financial due diligence. 

 

  • We look for opportunities to leverage nonprofit and for profit participants, stakeholder expertise and assets to the greatest extent possible. 

 

  • We provide professional financial oversight. 

 

  • We choose projects that (a) promote innovative solutions the complex and interrelated environmental, economic and social challenges as required to achieve truly sustainable solutions, (b) engage diverse, under-served community voices that might otherwise go unheard, and (c) impact public policy change. 

By selecting projects that have the greatest chance of succeeding on all levels, CVP offers donors qualitative and quantitative outcomes normally unavailable. 

 

Contact CVP to receive a copy of our Donor Advised Fund Agreement and to answer any questions you might have. All donors are advised to consult a professional tax specialist to determine if a Donor Advised Fund is appropriate for their financial planning needs

 

CVP DAF Terms & Conditions

 

In accordance with the most recently published IRS Donor-Advised Funds Guidelines:

 

  • Donors may not impose unreasonable or prohibited restrictions or conditions on the assets in their account.

 

  • The Board of Directors of CVP will review any donor recommendations for distributions, and must approve all such distributions. 

 

  • CVP maintains a selected list of projects, programs and initiatives that CVP is currently undertaking and/or supporting. CVP will encourage but not require donors to contribute to the current list of CVP projects, programs and activities. 

  • CVP can only approve distributions of donor advised funds to projects, programs, initiatives or organizations that support the tax exempt purposes of CVP or to other exempt, charitable, educational or scientific nonprofit organizations, or to organizations, projects or initiatives that are fiscally sponsored by an exempt, charitable, educational or scientific nonprofit organization.

 

  • Donors are required to designate a successor or trustee in the event of their incapacity or demise. If a donor fails to do so, CVP will maintain the right to select a successor advisor.

 

  • Donors are required to provide advisory distribution recommendations at least annually.

 

  • Every sponsored DAF account is be required to make annual distributions of a minimum of 5 percent of its total assets. If a donor does not submit an approvable recommendation, the CVP reserves the right to distribute the minimum annual amount to any projects, programs, initiatives or organizations that it, in the CVP board of director’s sole opinion, deems best to further CVP’s exempt purposes.

  • If a donor’s account has been inactive for a period of more than ten years, CVP will have the right to close the account and return all funds to the donor, or distribute those funds to projects, programs, initiatives or organizations that further CVP’s exempt purposes.

  • Donors will receive an annual statement reporting account information about the donor’s account, including balances, investments, and distributions.

 

Disclaimers

 

Community Venture Partners, Inc. does not have an agreement or any arrangements with any investment or financial companies of any kind. Each DAF will be managed by properly licensed and registered invesment firms at the discretion of the donor.​ CVP does not provide investment advice, tax advice, asset management, brokerage services, insurance services, or underwriting services. Donors are advised to seek the services of properly registered and licensed professionals to assist them in their decision making.

 

CVP DAF Regulatory Restrictions & Conditions

 

  • Donors are restricted from making “investments” or other such distributions that might result in any type of financial gain or profit or return.

  • Donors are restricted from making distributions to “natural persons” as defined under the Code.

  • Donors are restricted from making distributions or grants to individuals for travel, study, or other similar purposes.

  • Donors are restricted from making distributions to supporting organizations defined in IRC 509(a)(3), or to other donor advised fund.

 

  • Donors are restricted from making distributions or grants to employer-sponsored disaster relief funds.

  • Donors are restricted from making distributions or grants to individuals, with CVP retaining discretion and control, within the meaning of Rev. Rul. 56‑304, unless they are individuals who are either fiscally sponsored by CVP (for more information please see “CVP Fiscal Sponsorship”), or sponsored by another organization, exclusively for charitable, scientific, or educational purposes, that is exempt from federal income tax under Sections 501(c)(3), 509(a)(1), (2), or (3) of the Internal Revenue Code;

 

  • Donors are restricted from making distributions to other legal persons (i.e., corporation, trust, estate, partnership, or association), with CVP retaining discretion and control, within the meaning of Rev. Rul. 68‑489, unless they are either organizations that are exempt from federal income tax under Sections 501(c)(3), 509(a)(1), (2), or (3) of the Internal Revenue Code, or who are either fiscally sponsored by CVP (for more information please see “CVP Fiscal Sponsorship”), or sponsored by another organization, exclusively for charitable, scientific, or educational purposes, that is exempt from federal income tax under Sections 501(c)(3), 509(a)(1), (2), or (3) of the Internal Revenue Code.

 

  • CVP DAF accounts are specifically prohibited from making any type of distribution of funds from its donor-advised fund accounts to be used to directly or indirectly provide more than an incidental benefit to any donor, donor advisor, or related person.

 

  • CVP DAF accounts are specifically prohibited from making any type of distribution of funds from its donor-advised fund accounts in the form of grants, loans, compensation, or other similar payments, including expense reimbursements, to the donor, donor advisor, a member of the donor or donor advisor’s family, or a 35 percent controlled entity of the aforementioned.

 

  • CVP DAF accounts are specifically prohibited from making any type of distribution of funds from its donor-advised fund accounts that might provide excess benefit transactions to donors or donor advisors (or related persons) and from sponsoring organizations to investment advisors (or related persons).