- Online: Donor Access lets you access information about your donor advised fund at any time. This password-protected service allows you to check the fund’s current market value, review recent grants from the fund and contributions you've made, and e-mail grant suggestions directly to GCF. If you would like to sign up or have questions, please contact Lori Beiler at 513-768-6145.
- By mail or fax: Using the Donor Suggestion Form you received when the fund was established, mail or fax your suggestions to GCF. You may request additional forms by calling Lori Beiler or by download from our website.
The quickest way is to use
Donor Access, available 24 hours a day online. If you would like to register for this service, or have questions, please contact Lori Beiler at 513-768-6145 or
beilerl@gcfdn.org
- By law, community foundations can only make grants for public charitable purposes. GCF will generally make grants only to qualified tax-exempt 501(c)(3) charities that are public charities (not private foundations).
- Community foundations cannot fulfill a donor’s individual pledge or legally binding commitment through a grant from a donor advised fund. If GCF is aware that a grant suggestion relates to a pledge or commitment, the Board will have no choice but to deny the request.
- Similarly, GCF cannot make a grant if the donor receives any benefit from the grant (e.g., raffle tickets, tickets to a benefit dinner or event, memberships, payment of a relative’s tuition to an educational institution, etc.).
- Please note that the Pension Protection Act of 2006 imposes penalties on donor advisors and foundation staff who do not follow these rules.
The fund can make grants to any U.S. 501(c)(3) that is a public charity. Private foundations do not fall under this definition. You may, however, make grant suggestions to schools and places of worship. Further, it is possible to support causes in foreign countries (see below).
Yes. While GCF’s mission is to improve the quality of life in the Greater Cincinnati region, we understand that many people have charitable interests outside the Tristate region. Therefore, any qualified public charity in the U.S. may receive grants from a GCF donor advised fund.
Yes! International grantmaking is much more complicated than domestic, but GCF can help you. By working through carefully selected U.S. intermediary organizations, GCF can help you make a grant to support a cause overseas – and it will be in compliance with U. S. tax law and the Patriot Act’s anti-terrorism provisions. In exchange for these services in a highly complex arena, the intermediary receives a fee ranging from 8 – 12%. GCF staff can help donors identify the intermediary group right for the part of the world the donor wants to support. If a donor wants to support a specific type of project (for example, a clean water project in Africa), but doesn’t know how to go about it, GCF and the intermediary organization can help.
Generally, your grant check will be mailed within three business days of receipt of the suggestion. Due to the complexity involved, international grants will take longer.
To minimize administrative costs, grants must be at least $100.
No.
You are under no obligation to make grant suggestions from the fund, but we encourage you to be an active philanthropist and use your fund to support all your charitable interests. Some donors use their donor advised fund to facilitate 80-90% of their charitable giving each year.
You may be involved in the grantmaking from the fund, but may not control it. In accordance with tax law, when you establish a donor advised fund you must relinquish control of the assets you contribute to the fund in order to take a charitable deduction. However, you do retain the right to make grant suggestions for the review of the GCF Governing Board. (See “Why does the Board have the final authority to approve or deny the grant?” below.)
IRS regulations require that a donor relinquish control over the gift at the time it is made. (Donors only qualify for a tax deduction if they give the money to a public charity and relinquish the right to control it.) Consequently, the Governing Board at GCF is legally empowered to approve or deny a donor’s grant suggestion.
If a donor suggests a grant to an organization that does not qualify for tax-exempt status, or if it is clear that the donor would receive some benefit from the grant, the Board would deny the request. However, if all suggested grant recipients are qualified U.S. public charities, and there is no suggestion of private benefit to the donor, the Board will endeavor to honor the donor’s wishes.
No. By law, GCF may not issue grant checks to fulfill a pledge or commitment. (See above “What are the restrictions on grantmaking?”) If a donor were permitted to use an advised fund to fulfill a legal obligation or pledge, it would be clear that the donor never truly ceded control of his or her gift to GCF. For this reason, GCF cannot satisfy a donor’s pledge or obligation, even if the commitment is to a qualified public charity. If GCF is made aware that your grant suggestion relates to a pledge or commitment, the Board must deny your request.
You might respond to a request for a pledge by giving an indication of your intent, such as:
“We have suggested (or We will be suggesting) that a grant be made from the {name of fund} of The Greater Cincinnati Foundation to {name of organization}. Pending approval by the GCF Governing Board, a check will be issued from the Foundation to {name of organization}.”
There are specific IRS rules regarding the deductibility of charitable contributions for which donors receive a benefit. (For example, when a person buys tickets to a fundraiser and receives a dinner as part of the cost of the ticket, then the deductible amount is equal to the cost of the ticket less the value of the dinner.) Since a gift to GCF results in a full charitable deduction, then the donor may not receive goods and services in exchange for that gift. You may make a grant in response to a fundraising event in lieu of attending.
Further, the Pension Protection Act of 2006 expressly prohibits donors from receiving “more than incidental benefits.” Penalties apply for not following the rules.
Remember this rule of thumb regarding grants for memberships or special events:
If you could not write a check from your personal checking account and receive a full deduction for the gift, then GCF will not be able to make a grant. Note the following possible language:
“I am suggesting a grant to {name of organization} from my donor advised fund at The Greater Cincinnati Foundation. Please note that if the grant is approved, it does not qualify for goods or services. I do not wish to receive any goods or services.”
No. Donor advised funds may not make grants to individuals either directly or indirectly or to a charitable entity for the benefit of a specified individual. Further, donors, advisors or related parties are prohibited from receiving grants, loans, compensation or similar payments (including expense reimbursements) from donor advised funds.
No. Under the Pension Protection Act, donors, advisors or related parties are prohibited from receiving grants, loans, compensation or similar payments (including expense reimbursements) from donor advised funds.
Please request a copy of GCF’s Procedure Regarding Public Fundraising for Component Funds.