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| Donor advised Fund at the St. Louis Community Foundation | Commercia Donor Advised Fund at financial institution | Community Foundation Supporting Organization (Type 1) | Private Foundation | |
|---|---|---|---|---|
| Definitions | Local, independent nonprofit resource that serves donors who want to establish and direct a charitable initiative while minimizing the costs associated with setting up and maintaining a foundation. | Donated funds are (typically) held at a non-local financial institution. Donors make grantmaking recommendations to the fund. | Combines the flexibility of a donor advised fund with the formal board structure and defined charitable mission of a foundation. Appropriate for individual and corporate philanthropic initiatives. | A nonprofit organization administered by a board of directors and funded by an individual, family, or company, that makes grants to nonprofit recipients. |
| Personal Local Service | Yes | No | Yes | Varies |
| Knowledge of Local Nonprofits | Yes | No | Yes | Varies |
Start Up Considerations: |
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| Costs | None | None | Community Foundation covers most costs | Several thousand for legal, accounting and filing expenses |
| Timeframe | Immediate | Immediate | Several Months | Several months |
| Minimum Contribution | $10,000 | Typically, $5,000-$25,000 | $5 million recommended | None, but smaller private foundations may not be cost effective |
| Distribution Requirements | None | Varies. Some require a minimum of 5% of fund’s net assets on a five-year rolling average | None | Must distribute at least 5%of net asset value annually. Subject to 30% penalty tax on amounts not distributed |
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