Donor Advised Accounts at
Josiah White’s Quakerdale Foundation
Donor Advised Accounts at
Josiah White’s Quakerdale Foundation
Donor Advised Accounts
The Who, What, When, and Why
- WHEN
Donor Advised Accounts Began in January of 2020. - WHY
They were created to provide a way for the Foundation to help its supporters fund the nonprofits they are passionate about. - WHO
Anyone who believes in the mission, vision, and values of the Quakerdale Foundation and wants to maximize their capacity to give and their fulfillment in giving. - WHAT
Endowment accounts at the Quakerdale Foundation that earn investment income that is awarded annually to account beneficiaries.
Account Beneficiaries Are Foundation Approved Nonprofits and Must…
- be a 501c3
- have a faith component to their programming
- serve the needs of children and families
Types of Accounts and How They Function
Standard Donor Advised Accounts
- Are named by the donor or donors opening the account.
- May be opened with a donation to the Foundation of $100 or more.
- Can be added to at any time during the year, as often as desired, and by anyone with the approval of the account adviser.
- Payouts to account beneficiaries begin once the Net Average Corpus Balance (donated amount) reaches $1,000 or more
- Multiple payouts can be made, however, all payouts must be $100 or more
- Payouts are based on the investment income earned in a calendar year
- Investment income is calculated at 5% of the Net Average Corpus Balance
- Net donations are the Gross donation minus any 3rd party processing fees or service charges such as those charged by debit or credit cards. The Foundation does NOT impose any fees or service charges on the donated or paid out amounts.
- The Net Corpus Balance is a part of the Foundation’s Permanent Endowment Fund
- Accounts are managed by the Account Advisor. The Primary Successor becomes the Account Advisor in the event the Account Advisor is unable to perform their duties. The Secondary Successor becomes the Account Advisor in the event the Account Advisor and the Primary Successor are unable to perform the duties of an Account Advisor. The Foundation becomes the Account Advisor and the account is closed if the Account Advisor, Primary Successor, and Secondary Successor are unable or unwilling to perform the duties of the Account Advisor.
- Payouts may be rolled over into the Net Corpus Balance at the beginning of the new year at the instruction of the Account Advisor. This would help the Net Corpus Balance grow faster. Rollover is automatic for Standard Accounts that have a Net Corpus Balance less than $1,000.
Memorial Accounts
- Are named in honor of the person, or persons, being memorialized by the donor or donors opening the account.
- May be opened with a donation to the Foundation of $100 or more.
- Can be added to at any time during the year, as often as desired, and by anyone with the approval of the account adviser.
- Payouts are made in honor of the person, or persons, being memorialized.
- Payouts to account beneficiaries begin once the Net Average Corpus Balance (donated amount) reaches $1,000 or more
- Multiple payouts can be made, however, all payouts must be $100 or more
- Payouts are based on the investment income earned in a calendar year
- Investment income is calculated at 5% of the Net Average Corpus Balance
- Net donations are the Gross donation minus any 3rd party processing fees or service charges such as those charged by debit or credit cards. The Foundation does NOT impose any fees or service charges on the donated or paid out amounts.
- The Net Corpus Balance is a part of the Foundation’s Permanent Endowment Fund
- Accounts are managed by the Account Advisor. The Primary Successor becomes the Account Advisor in the event the Account Advisor is unable to perform their duties. The Secondary Successor becomes the Account Advisor in the event the Account Advisor and the Primary Successor are unable to perform the duties of an Account Advisor. The Foundation becomes the Account Advisor if the Account Advisor, Primary Successor, and Secondary Successor are unable or unwilling to perform the duties of the Account Advisor.
- Payouts may be rolled over into the Net Corpus Balance at the beginning of the new year at the instruction of the Account Advisor. This would help the Net Corpus Balance grow faster. Rollover is automatic for Memorial Accounts that have a Net Corpus Balance less than $1,000.
OneGEN Accounts (One Generation Empowering the Next)
- Are created to help teach the originating minor about endowment giving.
- The account is named in honor of the originating minor.
- May be opened with a donation to the Foundation of $100 or more.
- Can be added to at any time during the year, as often as desired, and by anyone with the approval of the account adviser.
- Payouts are made in honor of the minor.
- Payouts to account beneficiaries begin once the Net Average Corpus Balance (donated amount) reaches $1,000 or more
- Multiple payouts can be made, however, all payouts must be $100 or more
- Payouts are based on the investment income earned in a calendar year
- Investment income is calculated at 5% of the Net Average Corpus Balance
- Net donations are the Gross donation minus any 3rd party processing fees or service charges such as those incurred by debit or credit cards. The Foundation does NOT impose any fees or service charges on the donated or paid out amounts.
- The Net Corpus Balance is a part of the Foundation’s Permanent Endowment Fund
- Accounts are managed by the Account Advisor. The Primary Successor becomes the Account Advisor in the event the Account Advisor is unable to perform their duties. The Secondary Successor becomes the Account Advisor in the event the Account Advisor and the Primary Successor are unable to perform the duties of an Account Advisor. The Foundation becomes the Account Advisor if the Account Advisor, Primary Successor, and Secondary Successor are unable or unwilling to perform the duties of the Account Advisor.
- The Account Advisor meets with the originating minor to discuss endowment giving and name who will be the beneficiary of all payouts for the year.
- At age 18, the originating minor may be named as the Account Advisor, and the Account becomes a Standard Donor Advised Account with the minor named as the Account Advisor.
- Payouts may be rolled over into the Net Corpus Balance at the beginning of the new year at the instruction of the Account Advisor. This would help the Net Corpus Balance grow faster. Rollover is automatic for OneGEN Accounts that have a Net Corpus Balance less than $1,000.
Ministry Endowment Accounts
- Are named the same as the Account Beneficiary and are for the sole purpose of helping to fund that Foundation-approved nonprofit.
- May be opened with a donation to the Foundation of $1,000 or more.
- Can be added to at any time during the year, as often as desired, and by anyone with the approval of the account adviser.
- Payouts to account beneficiaries begin once the Net Average Corpus Balance (donated amount) reaches $5,000 or more
- Payouts are automatically paid to the account beneficiary.
- Payouts are based on the investment income earned in a calendar year
- Investment income is calculated at 5% of the Net Average Corpus Balance
- Net donations are the Gross donation minus any 3rd party processing fees or service charges such as those charged by debit or credit cards. The Foundation does NOT impose any fees or service charges on the donated or paid out amounts.
- The Net Corpus Balance is a part of the Foundation’s Permanent Endowment Fund
- Accounts are managed by the Account Advisor, which must be a member of the beneficiary’s board of directors. The Foundation becomes the Account Advisor if the Account Advisor is unable or unwilling to perform the duties of the Account Advisor, or no Account Advisor is named after a 12-month vacancy.
- Payouts may be rolled over into the Net Corpus Balance at the beginning of the new year at the instruction of the Account Advisor. This would help the Net Corpus Balance grow faster. Rollover is automatic for Ministry Accounts that have a Net Corpus Balance less than $5,000.
Have Questions?
If you have any questions or are ready to open your Donor Advised Account here at the Quakersdale Foundation, please feel free to reach out to our Development Team.
