Q.

How does a donor advised fund work?

A.

You make an irrevocable gift to the United Methodist Foundation to establish an account whiech is named by you. After establishing the account you may designate yourself and/or others as advisors. As an advisor you have the privilege of making grant recommendations to support public charities such as your church and other helping agencies you support. Account information, and the grant recommendation form may be found by logging into Legacy Central.

Q.

Is there a minimum contribution required to open an account?

A.

Yes. The minimum to open a gift fund is $1000. The minimum grant recommendation is $100.

Q.

How is the fund invested?

A.

You as the donor have a choice among four funds designed to meet both long and short-term goals. The funds are the Money Market Fund (cash), Intermediate Bond Fund (income), Diversified Fund (growth & income), and Stock Fund (growth). Detailed information about each fund is available for your review to determine which fund is most appropriate for you.

Q.

Is this a new program of the Foundation?

A.

No. We have been assisting donor clients in this way for years.

Q.

How do I open a Donor Advised Fund?

A.

Contact the Foundation and request a Gift Agreement Form. Fill out the form, send it to us and your account will be established and ready to receive your contribution.

Q.

Can I receive income from the Fund?

A.

No, an individual cannot receive a grant or distribution from the fund. Only churches and charities that are recognized by the IRS as a “qualified charity” under code 501 C 3 can receive a grant from your fund. However your Foundation does offer Life Income Plans such as Charitable Remainder Trust, and Charitable Gift Annuities that we would be happy to discuss with you.

Q.

How do I make a grant recommendation?

A.

You may access your account information and make grant recommendations by logging into UMF Legacy Central.

Q.

What if I should pass away before all the funds in my account has been distributed?

A.

You can designate a family member or another representative to be a successor and advise the Foundation on future distributions. Your estate plan can also instruct the Foundation concerning a distribution plan, or can establish a permanent endowment to support you church or charities.