Donor Advised Funds

Choosing to create a donor advised fund at the Catholic Foundation find it is a terrific option for donors whose passion for giving includes Catholic organizations and purposes.

Donor advised funds at the Catholic Foundation function like those elsewhere, but have the added benefit of staff who know our Catholic community and its needs. Also, the funds are invested in accordance with the United States Conference of Catholic Bishops Socially Responsible Investment Guidelines and grants are in accordance with Catholic teaching.

Donors are not limited in making recommendations for grants to only Catholic organizations, although they are encouraged to suggest parishes, schools, ministries, and agencies in the Archdiocese of Atlanta to be recipients of their charitable gifts. Donors are also encouraged to designate the majority of their giving to Catholic organizations. Nonprofits outside of the geographic boundaries of the Archdiocese or those which are not Catholic will not be excluded, however. Donor-advised funds at the Catholic Foundation can make grants to churches, schools, universities, and nonprofits.

Donor-advised funds hold assets that are donated to the Catholic Foundation of North Georgia and are available for charitable purposes at the donor's recommendation over time, subject to final approval by the Foundation's Board of Directors. A donor-advised fund is established with an irrevocable gift to the Catholic Foundation. Donors may then recommend grants for charitable giving over time and even involve additional generations in giving.

Cash, appreciated securities, real estate, and other assets are accepted to create and replenish the fund. The donor receives an immediate tax deduction in the year of the donation, without needing to determine the final recipients of the charitable gifts. A single non-cash transaction can fund all charitable contributions in one year, resulting in one acknowledgement letter at tax time.

Donor-advised funds allow you to stay actively involved in future charitable giving like with private family foundations but with additional advantages. The donor-advised fund is not subject, at this time, to the same requirements of private foundations. Also, the Catholic Foundation handles the administrative and legal requirements associated with the fund. Some families choose to close their private foundations and move the assets to the Catholic Foundation to administer as a donor advised fund.

The Catholic Foundation will help donors learn about needs in our community close to home. Managing the Foundation's grants programs gives the staff of the Foundation a close-up look at the needs of the nonprofits, schools, and parishes which are serving people in the Archdiocese. The Catholic Foundation staff members help you determine which local organizations or causes match your passions for giving.

The Catholic Foundation allows for donor-advised funds to evolve at the passing of the original donors. Donors may plan for a donor-advised endowment fund which includes successor advisors for when they pass away, or may choose to create an endowment fund to provide pre-determined grants or grants approved by the Foundation's grants committee in the future.

For more information on donor advised funds or donor advised endowment funds, please contact Nancy Coveny at 404-497-9440 or at ncoveny@cfnga.org.

Click here to see the Donor Advised Fund Agreement

“The advantages to having a fund at the Catholic Foundation became apparent when my family considered the move. Also, my family believes in the mission of the Catholic Foundation and we hope that by moving our foundation it will encourage others to look at the Catholic Foundation.”
-Clarence Smith, former Chair of the Board of the Catholic Foundation, on why his family moved thier parents' private foundation to be a donor-advised fund at the Catholic Foundation.