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DONOR ADVISED FUND
CTAC provides administration for both existing and new donor advised fund programs. Existing programs can submit their program initiation documents for compliance review.
PROGRAM INITIATION
- Review fund provisions and enter pertinent data into administration system
- Analyze gifts for suitability as an asset for the fund
- Advise the organization regarding related issues or concerns.
- Monitor donor DAF compliance with the organization’s DAF policy
- Collect legal, financial and tax documents and records used to establish the entity and its relationship with the trustee, trust administrator and investment manager
OPERATIONAL SERVICES
- Process DAF applications and additional contributions
- Prepare donor acknowledgments
- Process distributions and prepare and send checks and cover letters, if required
- Prepare monthly financial reports
- Prepare quarterly reports for donors
- Prepare invoices
CLIENT COMMUNICATION
- A detailed sub-account report for each fund
- Report on annual distributions
- A summary accounting of fund activity, including income, expenses, capital gain & losses, and the unrealized appreciation in the market value of assets
- Fund Valuation Report
- Periodic report of charitable grants
- Periodic report of charitable contributions
- Prepare and file IRS forms 8283, 8282 and 1099 when applicable
WEBSITE ACCESS
- Different levels of access authorizations can be established to view current and archived information
- If applicable to your program, clients may access forms for: report view, applications, additional contributions and grant recommendations
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