Fax: (212) 714-0303 fjc@fjc.org
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FJC Programs
YPF programs
YPF Menu Options:
- What is an FJC Young Philanthropist Fund?
- How Does a Young Philanthropist Fund Work?
- How Do I Establish a Young Philanthropist Fund with FJC?
- What Are the Advantages to Opening an FJC Young Philanthropist Fund?
- Young Philanthropist Fund FAQ
How Does a Young Philanthropist Fund Work?
A YPF may be established for a named individual 21 years of age or younger by anyone of legal age. The establishing gift, and all future contributions made to the account will be invested based on the account’s Investment Allocation. The account balance will continue to grow, tax free, so young philanthropists have even more money available to distribute to the charities of their choice. FJC will issue a tax receipt to all donors for their contributions made to the account as required by the Internal Revenue Service.
If the account recipient is under 18 years of age, a parent or guardian must indicate, at the time the account is setup, what level of access the recipient will have to the account. This includes: their access to viewing account information online; if a parent or guardian must approve distribution requests; and whether they should be included on account mailings.
There is no minimum, or maximum, number of distributions allotted for a calendar year. There is a $180 minimum per distribution. FJC will send the account holder a copy of the grant distribution letter for each distribution made from the account. Click here to see a sample of the standard transmittal letter sent to an organization. Letters can also be adjusted to reflect donor anonymity.
Distributions from a Young Philanthropist Fund can only be made to qualified tax-exempt organizations, or other qualified charities as approved by FJC. Please see the Donor Advised Fund FAQ or the Summary of Procedures and Rules for Donor Advised Funds for a summary of the restrictions and limitations on donor advised fund distributions.
FJC has one of the most competitive and simple fee structures. The fund will be charged an administrative fee of just 1% annually, based on the average daily balance in the account. Fees are posted to the account on a quarterly basis and will be clearly outlined on the Quarterly Statement of Activity. There are no transactional fees, balance requirement fees, or hidden charges – simply the annual fee based on the account balance.