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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:

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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