COMPARING DONOR-ADVISED FUNDS Donor-advised funds have been part of the landscape of American philanthropy for many years and are available from a number of sources: community foundations, commercial charitable gift funds, and independent public foundations like the Jewish Communal Fund. Although many donor-advised funds share similarities, they also offer distinct differences. Please consider the following factors when you and your financial advisor evaluate the services of a donor-advised fund:

Costs:

• What is the annual administrative fee?
• What are the asset management fees?
• Are there additional fees (for example, a processing fee for grants beyond a certain limit, a load, or a commission to the broker establishing the account)?

Investments:

• How wide is the choice of investment options?
• What has been the performance of these investments?
• What is the net rate of return after fees?

Contributions:

• What types of assets are eligible for contribution other than cash and marketable securities, e.g., closely-held securities, real estate, life insurance, interests in limited partnerships and limited liability companies?
• What is the minimum amount required to establish the fund?
• Is there a minimum amount required for additional contributions?
• Are group funds permitted (e.g., memorial funds, Bar or Bat Mitzvah funds, wedding funds)?

Distributions:

• What is the minimum grant amount?
• Is there a minimum annual distribution requirement?
• Are there restrictions on distributions?
• How quickly are grant recommendations processed?

Other:

• What are the provisions for succession upon the death of the donor?
• Does the program offer Internet access and security for contributions, grants, and donor statements?
• What do other professional advisors say about the program?