New Advisor Central

What is a Donor Advised Fund (DAF) and how does it benefit my client?

A DAF is a charitable giving vehicle sponsored by a public charity (in this case, iGiftFund). When your clients make a contribution to the DAF, they receive immediate and maximum tax benefits. Receiving the tax benefit up-front allows them to recommend grants to their favorite charities over time, on their own schedule. They also recommend who will succeed them as fund advisors over successive generations.

At iGiftFund, we partner with you to make sure your clients have an exceptional experience as they focus on their philanthropic vision, grantmaking and fund succession.

How does a DAF work at iGiftFund?

DAF’s at iGiftFund have 2 components:

• Investment account at your preferred custodian which you will manage (approx. 99%)
• Liquidity account at iGiftFund (approx. 1%)

The purpose of the liquidity account is to cover small grants and our quarterly administrative fees. The liquidity account is rebalanced as needed.

Once the DAF is set up and funded, your clients (and you, if given the ability to do this), can recommend grants and grantees in DonorView, our online portal. In the portal, grants can be set up as a one-time or recurring, with full, partial or anonymous recognition.

Once submitted through the portal, grants are issued in the form of a check within 5 to 7 business days (many times much sooner, if the liquidity is available and there are no issues with grantee eligibility).

iGiftFund provides quarterly statements. We’re also happy to arrange duplicate statements or set up third-party view-only access for your client’s investment account depending on what your custodian allows.

What are your fees?

Our fees are tiered, starting at 45 basis points (bps) for the first $500K (Min $600/yr).

Click here for the fee scale: Fees and Minimums

What is the minimum initial contribution to establish a DAF?

The minimum initial contribution is $25,000

Additional contribution minimum is $1,000

What about grants?

The minimum grant amount is $100.

Our Grants Team processes grant distributions via check. Grant checks are accompanied by a grant letter and mailed directly to the grantee charity.

Do you have any guidelines regarding the investment?

Click here for our Investment Guidelines

Do you have a handout I can share with my client?

Click here to download a PDF of the DAF handout for Donors

Can you do a demo of DonorView for my clients?

Have your clients visit our Donor Hub page. This page is tailored to donors and has the same demo you see below.

DonorView Demo

I’m ready to open a DAF with iGiftFund, what is the process?

1. Open the Fund by Submitting the Electronic DAF Application to iGiftFund – click the DAF Application button below to complete the form (existing FAs should use the link available to them in the portal).

Prep Work – review our DAF Program with your clients, focusing on key details such as minimum contribution and grant amounts, eligible and ineligible grantees, and administrative fees. This is also a good time to explore Succession Plan options:

• Appointing up to two successor individuals
• Making final grants to up to six charities
• Establishing recurring grants with an endowment plan

Information Required for DAF Application – please gather the following information from your client(s):

• Full name, DOB, address, phone number and email for both the primary and joint donor fund holder. Note that the phone number will be used for Two-Factor Authentication (TFA)
• A 4-digit pin for over-the-phone verification
• Desired Fund name (e.g. Smith Family Giving Fund)
• Succession Plan
• Initial contribution ($25K min) and funding method

Note: The information for the Primary and Joint Advisors in the DAF application should be your clients’. Please don’t add the financial advisor information in these fields.

Formatting Reminder: Do not use ALL CAPS when completing the form, as this will affect Grant Letters and other correspondence.

Once you submit the electronic form, your clients will receive an email requesting their signature to complete the process. Keep in mind that the account opening process is not complete until they sign the DAF application. Once signed, they will be onboarded onto the portal.

Click here for our Program Description and Guidelines. Your client(s) will have access to this document when signing the application.

2. Open the Investment Account for iGiftFund – You will need our Corporate Documents Packet (Corporate Resolution, Articles of Incorporation, and Bank Letter for ACH Authorization) to complete the investment account paperwork. The Independent Charitable Gift Fund is a nonprofit corporation and the legal owner of all donor advised fund assets. This packet is designed to assist you in completing the investment account paperwork for e-signature.

Important: Use Independent Charitable Gift Fund as the entity name on all investment account paperwork. Do not use iGiftFund or “FBO [Fund Name].” Incorrectly titled documents will be returned for correction and may delay account opening.

Submit the investment account paperwork for review before requesting officer signatures.  Our Investment Operations Team must review the investment account paperwork for completeness, accuracy, and compliance before it is routed to our officers for signature.

Instructions for Submitting Electronic Documents:

• Add investments@igiftfund.org as the reviewer and first recipient in the routing order.
  • If your e-signature platform requires two-factor authentication, please use (330) 947-5190. For all other inquiries, please contact our main office number listed at the bottom of this page.
• Once the review is complete, the envelope will automatically continue to the designated officer signers.
• Please include the Donor Advised Fund name in the subject line of the envelope.
• Send the fully executed documents to investments@igiftfund.org for our records.

New Financial Advisors (One-Time Requirement):  As part of our investment oversight process, our Investment Operations Team will follow up with a welcome email that includes the required advisor documentation, applicable data feed instructions, and helpful onboarding resources.

Financial advisors will also be asked to provide their current advisory fee schedule for our records and, if required by their firm’s policies or compliance procedures, a copy of the Investment Advisory Agreement (IAA).

Not sure which forms your custodian requires? Contact our Investment Operations Team at investments@igiftfund.org or (330) 400-2768.

Data Feed Requirement: Because iGiftFund does not receive investment account data directly from our custodial partners, certain custodians require a data feed to be established. If applicable, instructions will be included in your welcome email.

3. Fund the DAF – let us know once the investment account is set up and funded by sending an email with the contribution date and amount to our Fiscal Team. This is the same process for subsequent contributions.

Once the contribution is posted, a gift acceptance letter will become available in the portal (under Contribution Activity) for tax purposes.