Advisors

Professional Advisors FAQ

Who is a “professional advisor”?

“Professional advisor” is a term we use to describe wealth managers, financial planners, accountants, insurance professionals, attorneys and others who work with charitable clients.

How do your Donor-Advised Funds work?

A Donor-Advised Fund is a fund from which your client can make charitable grants to tax-exempt organizations doing charitable work. Donors make a gift to establish the fund, using assets including cash, stock or other assets – and receive an immediate tax deduction. Those charitable dollars are grown through investing. Donors may choose one of the Community Foundation’s investment pools, or dollars may be invested through the donor’s own financial advisor. Then, donors recommend grants to their favorite nonprofit groups around Boulder County and beyond.

How does my client benefit by working with the Community Foundation?

A Donor-Advised Fund at the Community Foundation has many benefits – and is often an advantageous alternative to either a private foundation or a commercial gift fund. Compared to a private foundation, setting up a Donor-Advised Fund is more tax-advantaged, faster and less expensive to establish, and simpler to run. the Community Foundation acts as both staff and back office.

A Donor-Advised Fund at the Community Foundation is a high-service, personalized experience, which differentiates it from commercial options. By working with us, donors receive:
  • administrative and grant services for the donor’s fund, including due diligence, check writing and evaluation;
  • complete anonymity, should the donor desire that;
  • ongoing educational offerings on community issues of interest;
  • philanthropic advising services, including work on fund mission statements, giving plan and grantee research;
  • family philanthropy facilitation to help include and structure philanthropy as a family venture;
  • investment management, accounting and tax reporting (including the fact that the donor does not need to file an individual 990); and
  • the knowledge that fund fees are being put to work in this community.

What’s the minimum to open a Donor-Advised Fund?

Funds must reach $25K before donors may begin making grant distributions. After that, there is no minimum fund balance.

How do I set up a fund for my client?

Call us at 303.442.0436, or contact us at Philanthropic Services.

How long does it take to set up a fund?

Less than an hour once a donor has made a decision to move forward. There is a fund agreement to sign – and the fund is up and running.

How do I name the Community Foundation or my client’s Donor-Advised Fund as a beneficiary in an estate plan?

If you have a client who wants to name their fund (or a different fund) at the Community Foundation as a beneficiary of their will or trust, life insurance policy or retirement plan account, the following may be helpful in completing their estate planning documents or beneficiary designation forms.

Sample bequest language: 
I give to the Community Foundation Boulder County, a Colorado nonprofit organization, (the sum of $ _____); (_____ percent of my estate); (the following property: _____); or (the rest, residue, and remainder of my estate) for general purposes, or for the specific purpose of ___________________ (designate purpose).

After describing what is being left to the fund, simply say it will pass "to the Community Foundation Boulder County for the [name of your client’s or other fund]." 

Our staff will be happy to work with you and your client to establish a fund during your client’s lifetime to receive assets at their death. By working together ahead of time, we can ensure your client’s fund will carry out their charitable goals beyond their lifetime.

As a reminder, the Community Foundation is a 501(c)(3) public charity. Our tax identification number (EIN) is 84-1171836.

Can my client donate complex assets?

The Community Foundation can accept:
  • charitable gifts of real estate
  • charitable gifts of business interests (including closely held stock)
  • charitable gifts of personal property (e.g., artwork, patents and collections)
  • deferred gifts (e.g., life insurance policies, retirement plans and bequests)
What are complex assets?

Can I manage my client’s charitable assets?

Yes, financial advisors may manage their client’s Donor-Advised Funds. Learn more about our Financial Advisor Program.

Do you have any tools to help advisors have better conversations about giving with their clients?

Yes. Please read more about how to talk giving.

Whom do I contact for more information?

Call us at 303.442.0436, or contact us at Philanthropic Services.

Other common FAQ:

What are the fees associated with a Donor-Advised Fund?

How does a fund at the Community Foundation compare to a private foundation or commercial gift fund?

Professional Advisors FAQ

Who is a “professional advisor”?

“Professional advisor” is a term we use to describe wealth managers, financial planners, accountants, insurance professionals, attorneys and others who work with charitable clients.

How do your Donor-Advised Funds work?

A Donor-Advised Fund is a fund from which your client can make charitable grants to tax-exempt organizations doing charitable work. Donors make a gift to establish the fund, using assets including cash, stock or other assets – and receive an immediate tax deduction. Those charitable dollars are grown through investing. Donors may choose one of the Community Foundation’s investment pools, or dollars may be invested through the donor’s own financial advisor. Then, donors recommend grants to their favorite nonprofit groups around Boulder County and beyond.

How does my client benefit by working with the Community Foundation?

A Donor-Advised Fund at the Community Foundation has many benefits – and is often an advantageous alternative to either a private foundation or a commercial gift fund. Compared to a private foundation, setting up a Donor-Advised Fund is more tax-advantaged, faster and less expensive to establish, and simpler to run. the Community Foundation acts as both staff and back office.

A Donor-Advised Fund at the Community Foundation is a high-service, personalized experience, which differentiates it from commercial options. By working with us, donors receive:
  • administrative and grant services for the donor’s fund, including due diligence, check writing and evaluation;
  • complete anonymity, should the donor desire that;
  • ongoing educational offerings on community issues of interest;
  • philanthropic advising services, including work on fund mission statements, giving plan and grantee research;
  • family philanthropy facilitation to help include and structure philanthropy as a family venture;
  • investment management, accounting and tax reporting (including the fact that the donor does not need to file an individual 990); and
  • the knowledge that fund fees are being put to work in this community.

What’s the minimum to open a Donor-Advised Fund?

Funds must reach $25K before donors may begin making grant distributions. After that, there is no minimum fund balance.

How do I set up a fund for my client?

Call us at 303.442.0436, or contact us at Philanthropic Services.

How long does it take to set up a fund?

Less than an hour once a donor has made a decision to move forward. There is a fund agreement to sign – and the fund is up and running.

How do I name the Community Foundation or my client’s Donor-Advised Fund as a beneficiary in an estate plan?

If you have a client who wants to name their fund (or a different fund) at the Community Foundation as a beneficiary of their will or trust, life insurance policy or retirement plan account, the following may be helpful in completing their estate planning documents or beneficiary designation forms.

Sample bequest language: 
I give to the Community Foundation Boulder County, a Colorado nonprofit organization, (the sum of $ _____); (_____ percent of my estate); (the following property: _____); or (the rest, residue, and remainder of my estate) for general purposes, or for the specific purpose of ___________________ (designate purpose).

After describing what is being left to the fund, simply say it will pass "to the Community Foundation Boulder County for the [name of your client’s or other fund]." 

Our staff will be happy to work with you and your client to establish a fund during your client’s lifetime to receive assets at their death. By working together ahead of time, we can ensure your client’s fund will carry out their charitable goals beyond their lifetime.

As a reminder, the Community Foundation is a 501(c)(3) public charity. Our tax identification number (EIN) is 84-1171836.

Can my client donate complex assets?

The Community Foundation can accept:
  • charitable gifts of real estate
  • charitable gifts of business interests (including closely held stock)
  • charitable gifts of personal property (e.g., artwork, patents and collections)
  • deferred gifts (e.g., life insurance policies, retirement plans and bequests)
What are complex assets?

Can I manage my client’s charitable assets?

Yes, financial advisors may manage their client’s Donor-Advised Funds. Learn more about our Financial Advisor Program.

Do you have any tools to help advisors have better conversations about giving with their clients?

Yes. Please read more about how to talk giving.

Whom do I contact for more information?

Call us at 303.442.0436, or contact us at Philanthropic Services.

Other common FAQ:

What are the fees associated with a Donor-Advised Fund?

How does a fund at the Community Foundation compare to a private foundation or commercial gift fund?