Frequently Asked Questions
Potential donors and their advisors generally ask a number of similar questions about establishing and operating a fund at The San Francisco Foundation. We have outlined these issues and responses to them.
However, the list isn’t exhaustive. If you have additional questions or would like to discuss any of the issues below, we would welcome hearing from you. Please direct any questions about establishing funds to Donor Services professionals at 415.733.8500 or email donorservices@sff.org.
How do I open a Donor Advised Fund?
How do I choose a name for my fund?
Who can oversee the fund?
What are the guidelines for making a grant from a Donor Advised Fund?
How do I recommend a grant?
How are funds invested?
How do I open a Donor Advised Fund?
You can initiate the process by completing and returning the ‘Donor Advised Fund Agreement’. You can create a fund with cash, stocks, and other kinds of assets. The minimum initial amount needed to establish a fund is $10,000. Your banker, broker, or financial advisor may transfer assets directly to the Foundation; simply ask them to get in touch with us.
You will receive a charitable deduction for the full amount of the gift in the year of the contribution; additional contributions can be made at any time and in any amount. Others may donate to your fund to mark a special occasion, or to support a special project you have in mind.
To request a donor brochure and fund agreement form, contact our Donor Services professionals at 415.733.8500 or email donorservices@sff.org.
How do I choose a name for my fund?
Many donors use their family name in naming their fund, which will appear in Foundation publications such as our annual report. Another option is to select a different name, such as the “Main Street Fund,” to protect your confidentiality. Complete anonymity is of course an option for those who do not wish their names or fund name to be revealed or listed publicly.
Who can oversee the fund?
Throughout your lifetime, you advise on the grantmaking activities of your fund. You may choose to designate your spouse or partner, your child, other family members, or a friend as an advisor to your fund. And you may extend the life of your fund into future generations by providing the Foundation with names of Successor Advisors.
What are the guidelines for making a grant from a Donor Advised Fund?
We welcome and encourage grant recommendations to established nonprofit 501(c)(3) organizations. The Foundation verifies the nonprofit status and charitable mission of the recommended organization. We request that each donor recommend grants in amounts of $250 or more. While the Foundation’s area of expertise is in the Bay Area, you may recommend grants anywhere in the United States and to some nonprofits abroad.
Your status as a donor via The San Francisco Foundation enables you to receive maximum tax benefits because you have relinquished legal control of your charitable gift. Therefore, we cannot fulfill any pledges you may have made. Similarly, since you will have already received a full deduction for the amount contributed to your fund, donor advised funds cannot be used for social events such as dinners or for memberships which include any goods or services. Grants from your fund are used exclusively for charitable purposes.
How do I recommend a grant?
Once you have established a fund, you may send us your gift-giving recommendations in writing, via fax or online through our website or Donor Center. You may want to use our Grant Recommendation Form for this purpose. It allows you to tell us the name, address, telephone number and contact person at the organization you wish to support, the amount of your proposed gift, and its purpose – general support or a specific program. The form also allows you to designate a particular grant as anonymous.
Donors recommend grants that provide general support to nonprofit organizations, or more specifically, to support a particular project, for a scholarship fund or class gift, equipment, or other purposes. Grants may be made in honor or memory of someone you wish to acknowledge.
Grant checks are accompanied by a transmittal letter identifying the donor advised fund by name (unless anonymity has been specified). You will receive a copy of this letter as well.
Our professional grantmaking staff is recognized as among the best in this specialized field. While many donors are already well informed about the causes and organizations they wish to support, others avail themselves of our expertise in identifying priority needs and worthy organizations in our communities. We can help you design targeted giving plans and assist you in maximizing the benefits of your philanthropy. Foundation donors receive our newsletters and annual reports, and are invited to Foundation forums on timely issues and social challenges.
How are funds invested?
The San Francisco Foundation’s funds are professionally managed and overseen by the Investment Committee and the Board of Trustees. Annual Investment and Audit reports are available upon request.
Our overall investment strategy is to provide prudent management of invested capital while producing a reasonable income for grantmaking and fund growth.
You will receive quarterly statements of your fund’s activity, mailed 30 days after each quarter’s close. You may also confidentially access your fund’s monthly statement online.