This page is a central place in which you can find answers to the most common questions that

you and your clients may have as you get started with Donor Advised Funds at iGiftFund.

If you're looking for grant related information, please visit our Donor Hub Page.

This is a great page to share with your clients.

What is a Donor Advised Fund (DAF) and how does it benefit my client?

A DAF is a charitable giving vehicle sponsored by a public charity (in this case, iGiftFund).  When your clients make a contribution to the DAF, they receive immediate and maximum tax benefits.   Receiving the tax benefit up-front allows them to recommend grants to their favorite charities over time, on their own schedule.  They also recommend who will succeed them as fund advisors over successive generations.

 

At iGiftFund, we partner with you to make sure your clients have an exceptional experience as they focus on their philanthropic vision, grant making and fund succession.

How does a DAF work at iGiftFund?

DAF’s at iGiftFund have 2 components:

  • Investment account at your preferred custodian that you will manage (approx. 98%)
  • Liquidity account at iGiftFund (approx. 2%)

The purpose of the liquidity account is to cover small grants and our quarterly administrative fees.  The liquidity account is rebalanced as needed.

 

Once the DAF is set up and funded, your clients (and you, if given the ability to do this), can recommend grants and grantees in DonorView, our online portal.  In the portal, grants can be set up as a one-time or recurring, with full, partial or anonymous recognition.

 

Once submitted through the portal, grants are issued in the form of a check within 5 to 7 business days (many times much sooner, if the liquidity is available and the grantee is vetted).

 

iGiftFund issues quarterly statements.  We're happy to facilitate for your client(s) (if available), duplicate statements or third-party view-only access for their fund's respective investment account.

What are your fees?

Our fees are tiered, starting at 45 basis points (bps) for the first $500K (Min $600/yr). These tiers go down the larger the fund is. 

 

Click here for the complete tiered scale:  Fees and Minimums

What is the minimum initial contribution to establish a DAF?

The minimum initial contribution is $25,000

Additional contribution minimum is $1,000

What about grants?

The minimum grant amount is $100. 

Our Grants Team processes grant distributions via check.  Grant checks are accompanied by a grant letter and mailed directly to the grantee charity.

Do you have any guidelines regarding the investment?

Click here for our Investment Guidelines

Do you have a handout I can share with my client?

Click here to download a PDF of the DAF handout for Donors

Can you do a demo of DonorView for my clients?

Please visit our Donor Hub page and share it with your clients.  This page has the demo of the portal and it's tailored to the donor.  Stay tuned for specific How To demos, which will be available Spring 2024.

I would like to speak to someone

Call us at 330.400.2768 or 800.810.0366 or email our Donor Support Team directly at DonorSupport@iGiftFund.org.

 

 

I'm ready to open a DAF with iGiftFund, what is the process?

The process is simple.

1.  Submit the DAF Application - click the DAF Application button below to complete the application (existing FAs should use the link available to them in the portal). 

 

Make sure you have your client's email address and phone number before starting the process.  The telephone number will be used for Two-Factor Authentication (TFA) to sign the DAF application via DocuSign and to onboard your client(s) into the portal.  Even though you can list a landline to receive a code, a cell phone number is ideal.  

 

The Primary and Joint Advisor in the DAF application are your clients.  Please don't add the financial advisor information on these fields. If the FA is also the Primary or Joint Advisor, make sure 2 different email addresses are used.

 

Do not use ALL CAPS when completing the form, as this will carry over to Grant Letters and other correspondence.

 

Make sure your clients keep an eye out for the DocuSign email.  The application process is not complete until they sign the application.

 

Click here to read our Program Description and Guidelines.  Your client(s) will have access to this document when signing the application.

2.  Open the Investment Account - send us the account paperwork required to open an investment account for a non-profit corporation at your preferred custodian.  Please include your investment advisory agreement.

iGiftFund is a 501(c)(3).  

 

Even though your clients are the DAF fund advisors, once the assets are contributed, iGiftFund becomes your client.

 

All investment account paperwork will need to be signed by 2 iGiftFund officers.  Use this link to email Donor Support and request our Corporate Documents Packet.  This packet has the information you need to complete the documents for electronic signature.  

3.  Fund the DAF - let us know once the investment account is set up and funded by sending an email with the contribution date and amount to Donor Support.  This is the same process for subsequent contributions.

 

Once the contribution is posted, a gift acceptance letter will become available in the portal.

DonorView Demo

  Click below for a quick demo of DonorView, our online portal.

Primary and Joint Fund Advisors can recommend grants, view contribution and grant history in the portal.  As financial advisor, you will be able to view their fund as well.

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