Creation of a Donor Advised Fund
Date:
ABC Community Foundation
123 North Main Street
ABC City,
Michigan 12345
Dear Sirs and/or Mesdames:
I (will soon/hereby) deliver to the ABC Community Foundation the
property described in the attached schedule to be used to establish
a donor-advised component fund within the Community Foundation. This
contribution is made subject to the following conditions. 1. The
fund created by this gift will be known as the ____________
______________________ Fund and will be so identified by the
Community Foundation in all relevant literature, reports,
promotional material, and other public documents.
2. The Fund will include the property described in the attached
schedule together with any property which may later be delivered to
the Community Foundation by the undersigned or any other person when
specified to be included in the Fund and accepted by the Community
Foundation.
3. The income of the Fund will be distributed at least annually
for those charitable purposes as the Community Foundation may
determine and consistent with the exempt purposes of the Community
Foundation as specified in its Articles of Incorporation and Bylaws.
I recognize that I (or "an Advisory Committee consisting of
________________________, _____________________, and
______________________") may from time to time, recommend grants
from the Fund exclusively for charitable purposes. These
recommendations are advisory only and the Community Foundation will
not be bound by the recommendations. It is my intent that the
principal of the Fund remain intact and not be subject to
distribution except upon my recommendation and in the discretion of
the governing board.
4. The Fund will be the property of the Community Foundation and
will not be deemed a separate trust fund held by it in a trustee
capacity.
5. The Community Foundation may commingle the property of the
Fund with the property of other component funds held by the
Community Foundation, provided, however, that the separate identity
of the Fund will be maintained and distributions from the Fund will
be clearly identified as such to the grantees.
6. I understand that upon my death (or upon the death of the last
member of the "Advisory Committee"), disposition of the Fund will be
at the discretion of the governing board of the Community
Foundation.
(Optional: 7. I understand and agree that the Fund will share a
fair portion of the total administrative costs of the Community
Foundation. The administrative costs charged against the Fund will
at all times be reasonable, will be in accordance with the current
fee schedule applicable to funds of this type, and will not exceed
usual and customary rates.)
Please indicate your acceptance of this donation in accordance
with these terms and conditions by signing below and returning a
copy of this letter to me.
Very truly yours,
___________________________________
(Donor)
Accepted:
ABC Community Foundation
By_________________________ Its___________________
Date:_________________
(Attach a page with the following heading)
Description
of Property Delivered to the ABC Community Foundation | 
