Protecting Charitable Freedom and Donor Intent
Recent reports about national donor-advised fund sponsors have raised important questions about donor intent and the freedom to support the causes you care about most. At the Community Foundation, we believe grant recommendations should be evaluated according to established law and IRS guidance, not by the subjective viewpoints or reputational concerns of a sponsoring financial institution.
Recent reports about national donor-advised fund sponsors Fidelity Charitable, Vanguard Charitable, and Schwab Charitable/DAFgiving360 have sparked important conversations across the philanthropic community regarding donor intent and the freedom to give to the causes you care about most.
At the Community Foundation of Herkimer and Oneida Counties, we believe grant recommendations should be evaluated according to established law and IRS guidance - and not the subjective viewpoints or reputational concerns of a sponsoring financial institution. When a nonprofit is recognized by the IRS as an eligible 501(c)(3) public charity in good standing, the Community Foundation's role is to conduct appropriate legal due diligence and, when permissible under applicable law, carry out the charitable intentions of our fundholders.
Hundreds of individuals, families, and businesses have entrusted us with their donor-advised funds because they know we administer those funds fairly, consistently, and without inserting institutional opinions or ideological preferences into the process. That trust is something we take seriously.
This principle holds regardless of the organization involved or the controversy of the moment. Community foundations are not arbiters of political or social viewpoints—we are stewards of donor intent and applicable law.
Transferring your Donor-Advised Fund is easier than you might think.
If you currently hold a donor-advised fund (DAF) with a national sponsor, moving it to the Community Foundation is a simple process:
- Recommend a grant from your existing DAF to the Community Foundation to establish a new DAF with our organization.
- Sign a fund agreement and your Community Foundation DAF is open and ready to grant.
Once complete, you'll have the same tax advantages and grantmaking flexibility you're used to with the added confidence that your charitable intentions will always be honored.
Our team is happy to confidentially answer any questions/concerns. Reach out to Chief Development Officer Nick Grimmer at ngrimmer@foundationhoc.org to schedule a conversation.