Triskeles believes that aligning practice with purpose – at the individual level, in the community and on a global scale – is the way to achieve a positive future.
Setting Up A Fund
The Triskeles Foundation provides you with a simple, effective way to maximize your giving and increase your tax savings.
What it is:
A Triskeles donor advised fund (DAF) provides you with a flexible philanthropic tool. Your gift into a DAFwill be invested in socially responsible, sustainable methods. After careful review and approval, requested grants can be made at your recommendation to charitable organizations.
How it works:
You make the donation to the Triskeles Foundation to set up the fund; you take the tax deduction, you fill out a simple donor advised fund agreement form and you can recommend grants anytime after the fund has been established and reached the minimum size. This eliminates the year-end pressure to select a charity and make a donation,or you can wait to make gifts, build up the fund, and make larger gifts at a later time when you wish. You don't have any of the administrative responsibilities such as annual IRS filings and taxes.
Open an account:
Establishing a charitable DAF at the Triskeles Foundation is easy and can be done in a couple of simple steps.
- Establish the fund: Complete and sign the Donor Advised Fund Agreement Form and the Purpose Agreement (both available online under Forms), and return it to us after your investment professional has reviewed it.
- Fund the account: Make an initial irrevocable contribution of $5,000* or more. This contribution can consist of multiple assets and securities.
* Some exceptions can be made regarding minimum account size. Once these steps are complete, you can recommend a grant(s).
Please review the following topics for additional information:
Tips on opening an account:
When you complete the Donor Advised Fund Agreement and the Purpose Agreement, keep these items in mind.- Donors: You (and/or others) may contribute to the fund repeatedly.
- Name your account: You may want to name the account after your family or name the fund to reflect the account's charitable goals. Examples: the David Jones Fund or the Children Read First Fund.
- Designate your advisors:You may name one (yourself or someone else) as advisor(s) and successor advisor(s) for your account. A successor, upon the death of all the original donors, may make contributions, recommend grants, and name successor advisors. A charity or Triskeles' General Fund may be named as the account beneficiary if you want the remaining assets in the account granted to a charitable organization(s) upon the death of all original donors and/or advisors.
- Choose your charitable area of interest: Please indicate any specific charitable activities / areas you may want to support over time on the form. If you or your fund's successor advisor(s) so choose, the Triskeles Foundation's Trustees will direct grants from the account.
Ways to fund the account:
- Cash can be wired, transferred from an existing account, or mailed to the Triskeles Foundation. Checks must be made payable to: Triskeles Foundation with your fund's name indicated in the memo section of the check.
- Publicly traded stock, bonds and mutual funds can be transferred from an existing account with any financial institution.
- Deferred contributions, such as naming the account as the beneficiary of a bequest, charitable remainder trust, charitable lead trust, or a qualified retirement plan, can also be used.
- You will receive a confirmation once your contribution has been accepted along with a tax receipt for your records. If a contribution is not accepted, it will be returned to your original account. For contributions of appreciated publicly traded securities, the Triskeles Foundation's receipt will be a good faith estimate of the fair market value on the date of the contribution.
In certain circumstances, the Triskeles Foundation may accept restricted, closely held or non-publicly traded securities. If the contribution involves restricted stock or other non-publicly traded securities, please contact your investment professional and the Triskeles Foundation's staff for assistance. After you make your contribution, all gift recommendations must be reviewed and approved through the Triskeles Foundation.
Grant facts:
- Anonymous giving: Donors can designate that a grant be anonymous or be given in the name of another individual.
- Allocating grants: Funds will be divested from your account to support liquidity needs so as to maintain the current portfolio allocation.
- Minimum grant amounts: Generally, the minimum grant amount is $250 (except for youth grants); smaller grants may be made if needed.
- Number of grants: Donors may make unlimited grants from an account.
Approved charity guidelines:
- Public nonprofits: Grants can be made to charitable organizations that are tax-exempt under the IRS Code Section 501(c)(3) and are public charities under the IRS Code Section 509(a). The Triskeles Foundation makes gifts in the context of its mission and values.
- Religious and educational: Some established religious organizations and educational institutions are not listed as IRS 501(c)(3) nonprofits but are nevertheless tax-exempt charitable organizations. The Triskeles Foundation will facilitate making grants to such organizations if consistent with Triskeles' mission.
- Foreign charitable organizations: The Triskeles Foundation can make grants to certain foreign charities. Additional fees will be charged to the account for any additional processing costs and due diligence.
General restrictions:
- The Triskeles Foundation cannot approve grants to individuals, to private non-operating foundations, or to political candidates or parties. The Triskeles Foundation also cannot approve grants to satisfy a pre-existing pledge or for any private benefit, such as tuition, dues, membership fees, benefit tickets, or goods purchased at a charitable auction.