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FJC What is a Donor Advised Fund FAQ

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 FJC Donor Advised Fund FAQ

 What types of assets can I contribute to my FJC Donor Advised Fund?

You can make additional contributions to your FJC Donor Advised Fund in the form of cash, credit card or appreciated securities (including mutual funds) at any time you choose, for any dollar amount.

FJC can also accept, with prior approval, other forms of property, such as stock in privately held companies, “144” stock and other restricted securities, and interests in real estate and other properties. Please contact FJC to discuss contributions of this nature.

 What will I need for my tax records?

Each time you make a contribution to your FJC Donor Advised Fund you will receive a tax substantiation letter for your donation – that’s all you need!

Although we ask organizations who receive grants from your Fund to acknowledge your gift, this is not a tax receipt. You receive your deduction at the time you contribute to your FJC Donor Advised Fund, not when you when you recommend grants to charity.

 How do I make grant recommendations?

Authorized Recommenders on the Fund may submit grant recommendations via e-mail, online using the FJC DonorWeb, or in writing on your customized Grant Recommendation Form by postal mail or fax. Please note, we cannot accept recommendations over the phone.

 Are there any limitations on the number of grants I can make from my Fund?

You may recommend any number of grants from your Fund during the year. The only requirement is that each grant recommendation is for a minimum of $100 and you have enough funds in your account to honor the recommendation at the time it is submitted.

FJC will contact you if your recommendation does not meet the minimum amount, if there are insufficient funds in your account, or if FJC has any other questions or concerns regarding your recommendation.

Please note that we ask you to allow 10 business days to process eligible requests.

 Who can receive a grant from my FJC Donor Advised Fund?

You may recommend grants to any qualified tax-exempt organization, or qualified religious institution, in good standing with the IRS. Distributions can also be made to international charities and qualified domestic organizations that have not yet received their tax exempt ruling that meet due diligence requirements and are approved by FJC for distributions on an agreement and reporting basis.

 What types of payments are not eligible for distribution from my FJC Donor Advised Fund?

FJC cannot honor the following recommendations from your Fund:

Pledges - FJC cannot honor pledges that you have made to an organization. This is a personal obligation that you have entered into and cannot be honored through your FJC Donor Advised Fund. FJC can honor solicitation requests.

Tuition - No form of tuition, or the enrollment fees for extracurricular activities, can be paid from your Fund. If a distribution to a school is submitted without a specific designation, FJC will confirm with the school, in writing, that the funds received will not be applied to the tuition of any particular individual.

Non-deductible Portion of Memberships or Tickets - FJC can only distribute the deductible portion of memberships and tickets to events from your Fund. We will gladly include your personal check for the non-deductible portion with our check and letter sent to the organization.

Gift Intended for the Benefit of One Named Individual - FJC cannot honor recommendations for gifts that will benefit one named individual. For example, “Please apply this gift towards the tuition of John Smith.”

Gifts can be designated for funds being raised by a particular individual for an event. For example, “This gift is designated for Jane Smith’s participation in the Race for a Cure.”

If you are not sure if a gift qualifies for distribution from your FJC Donor Advised Fund, please contact our office for clarification.

 How will I know my grant recommendation has been completed?

FJC will mail you a copy of the transmittal letter to the organization at the same time we mail the grant. In addition, you can check the status of the grant via the FJC DonorWeb. The DonorWeb will even let you know when the check has been presented for payment by the organization!

 Can I change the investment choices for my Fund?

You may recommend a reallocation of your account balance among FJC’s investment choices three times each calendar year. Special investment options are available for balances in excess of $1 million, subject to FJC’s review and approval. FJC may allow the investment of account funds to be managed by investment managers outside of our in-house options.