DONOR ADVISED ENDOWMENT
A Donor Advised Endowment is a permanent fund of the Community Foundation of Northern Illinois in which you retain a right to recommend grants to charitable organizations of your choice.
- There is no cost to you to establish a Donor Advised Endowment.
- Donor Advised Endowments provide you with the ability to realize tax benefits now and recommend grants from your endowment for the rest of your life.
- Donor Advised Endowments can save you both time and money as an alternative to establishing and administering a family, private or corporate foundation.
- The Community Foundation takes care of all legal and administrative requirements associated with your endowment.
- The Community Foundation performs due diligence to make sure that grants from your Donor Advised Endowment go to legitimate nonprofit organizations and purposes.
- It is easy to recommend a grant from your Donor Advised Endowment.
- The Community Foundation documents your intent in a formal agreement that governs the administration of your Donor Advised Endowment, so your wishes will be honored in perpetuity.
- You advise grants made in your name during your lifetime and designate nonprofit beneficiaries to receive grants from your endowment when you are no longer able to recommend grants yourself.
The Community Foundation of Northern Illinois is a 501(c)(3) nonprofit organization. Contributions to a Donor Advised Endowment are tax deductible to the extent allowed by law. Specific rules govern the right to recommend grants from a Donor Advised Endowment.