A donor-advised fund (DAF) is a dedicated account for charitable giving to any IRS-qualified charity. You advise how and where the money is granted and invested. Pinellas Community Foundation manages the administration, so there is no separate legal entity to set up and maintain.
You contribute, take the deduction allowed by law, and recommend grants to the charities you care about, on your own schedule.
You can contribute on your own or ask friends, family, or coworkers to give to your fund. You can also donate stock, real estate, mutual funds, property, and land.
PCF manages and distributes the charitable dollars on your behalf. That avoids significant legal costs and paperwork, and it puts the PCF Board and staff’s experience and connection to the community at your side when you decide where to give.
PCF manages the administrative details, so a fund can be set up in just a day versus several months.
There is no entity to form. Fees are set annually by PCF’s Board of Governors; see the figures below.
Contributions are gifts to a public charity and eligible for the maximum deduction allowed by law. PCF does not provide tax advice; please consult your own professional advisor.
Grants are distributed in the name of your fund, or anonymously if you prefer.
Three decisions and a short application are yours. The rest happens with PCF staff after you apply. No social security numbers or bank details are asked for on the application.
Three decisions and an application. You can also complete the application with PCF staff, in person or over the phone.
Use your family or business name, or honor a person or organization you choose. Pick one or more areas or causes that matter to you. With the PCF Board and staff’s ties to the community, you can also ask PCF where the need is greatest.
Fund advisors recommend grants and investments and have online access to fund statements. Successor advisors make those recommendations after the fund advisors are no longer able or willing to. You can be the sole advisor or bring in trusted family or friends.
Apply online, or make an appointment to fill it out in person or over the phone. The application collects personal and demographic information only; nothing sensitive like account or social security numbers.
After you apply, PCF gets in touch to finish setting up the fund with you.
PCF contacts you to review your application, answer any questions, and go over the fund agreement and contribution details.
A minimum contribution of $5,000 activates the fund. Checks, money orders, stocks, real estate, or private business interests are all accepted.
Sign electronically through secure DocuSign, in person at a PCF office in Clearwater or St. Petersburg, or by mail.
The online application asks for nothing sensitive. If you would rather do it with someone, PCF staff can complete it with you at a time that is convenient for you.
PCF’s administrative fee is set each year by its Board of Governors and is the same for every donor-advised fund PCF holds. It funds PCF’s mission-based operations in Pinellas County. The institution that invests the fund’s assets charges a separate monthly investment fee under a schedule the Board approves.
Minimum to activate a fund. Checks, money orders, stocks, real estate, or private business interests are all options.
Total administrative and investment fees, annualized, under fee schedules approved by PCF’s Board of Governors.
Average total fees per year. PCF gives you the exact annual figure once your investment recommendation is selected.
Costs of transferring donated assets into the fund are paid from the fund. Extraordinary services, such as review for international granting, may carry an additional fee; this is very rare.
Figures from PCF’s Donor-Advised Fund Fees and Costs page. The administrative fee is set annually by the Board of Governors, so confirm current rates with PCF before you sign.
Fund advisors recommend grants from income and principal, investments, and other administrative matters. If two or more are named, any may act alone.
Successor advisors step in on the death, resignation, or incapacity of the fund advisors, acting by majority unless the agreement says otherwise.
Later generations. Unless you specify otherwise, each successor advisor may recommend someone from the next generation to act in their place. PCF is happy to work with generations of advisors.
Your financial advisor may, in certain circumstances, manage the fund’s investments in a separate account, provided they are not the donor, an advisor, or a family member of one.
Investment recommendations are advisory, as IRS rules require. PCF’s Board of Governors oversees investments through its Investment Oversight Committee.
Any 501(c)(3) public charity in the United States, including governmental, educational, and religious institutions.
International organizations for an additional fee that covers the extra due diligence.
Not permitted by the IRS: grants to private non-operating foundations, to individuals, or to pay fundraising expenses.
Anonymous if you wish. Grants can go out in the fund’s name or anonymously, and PCF holds donor information in strict confidence.
Beyond your lifetime. A will, trust, life insurance policy, or retirement plan account can name your fund as a beneficiary; PCF supplies the language.
Contributions are reviewed by PCF before acceptance and are irrevocable once accepted. Because a contribution is deductible when it is made, later grants from the fund are not. PCF does not provide legal, tax, or financial advice; please consult your own professional advisors before contributing.
Everything a fund agreement refers to, in plain view.
Contributions, non-cash assets, grants, advisor roles, investments, confidentiality, bequests, and fundraising.
The fund agreement terms: legal control, advisor succession, investment pools, and electronic signatures.
How the administrative and investment fees are set, what they pay for, and the annualized range.
A draft of the agreement you will sign, so there are no surprises at step six.
You are welcome to reach out at any time to schedule a meeting. The application and fund agreement can be completed with help from PCF staff at a time that is convenient for you.
