A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Oregon Health & Science University Foundation or Doernbecher Children's Hospital and other charities.
You open a donor advised fund with a written agreement at a community foundation or sponsoring organization. You can make contributions to your fund at any time. These contributions are invested by the sponsoring organization, which provides regular accounting to you. You make the recommendations that various amounts be distributed to charitable organizations of your choice, such as Oregon Health & Science University Foundation or Doernbecher Children's Hospital.
There are a number of benefits of opening a donor advised fund, including:
- You qualify for a federal income tax charitable deduction when you make a gift to the fund.
- You eliminate capital gains taxes when you use long-term appreciated assets.
- You don't have to retain records for each contribution.
- Families can build a tradition of giving by involving children in the decisions about what grants to recommend.
You can also create a lasting legacy by naming your loved ones as your successor to continue to recommend grants to charitable organizations, or name Oregon Health & Science University Foundation or Doernbecher Children's Hospital to receive all or part of the account balance after your lifetime.
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An Example of How It Works
Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Laura recommend grants for OHSU or Doernbecher (which they’ve supported for years) and a local animal shelter. The foundation presents the charities with checks from the Patricia Fund, which Joe and Laura named in honor of Laura’s mother. They name OHSU or Doernbecher as the beneficiary to receive the account balance after their lifetimes. Joe and Laura are delighted to start this personal legacy of giving.
- Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
- Get to know the organization's policies and procedures; from minimum contributions to administrative fees. (Each organization handles these details differently.)
- Contact the Office of Gift Planning at 503-228-1730 or firstname.lastname@example.org to discuss further.
- Seek the advice of your financial or legal advisor.
- If you include us in your plans, please use our legal name and federal tax ID.
Legal name: Oregon Health & Science University Foundation
Address: 1121 SW Salmon Street, Suite 100, Portland, OR 97205
Federal tax ID number: Tax ID Number: OHSU Foundation: 23-7083114