How to Create a Donor-Advised Fund

A Donor-Advised Fund is a little like a personal charitable savings account. A donor creates an account and makes contributions of cash, stocks, or other assets like real estate or artwork and can take an immediate tax deduction for the gift. 

The accounts are controlled by a nonprofit, called sponsoring organizations, that invest the assets and manages the donor's account. Community foundations often serve as sponsoring organizations and so do nonprofit arms of financial firms, such as Vanguard Charitable and Schwab Charitable. Once a fund is established, donors tell the sponsoring organizations which nonprofits they'd like to donate to from their accounts. 

Through BigSIS you can set up Donor Profiles that are Donor-Advised Funds and tie the person records of those who will hard credit for the donation.

1. Go to Donations > Donor Profiles. 
   
   
2. Click New.
   
3. (Right-click and "Open image in new tab" to enlarge)
   
   Next, click on 'Check this box if this is a Donor-Advised Fund'.
   Next, Select a Charitable Sponsor or Create One (click on the for adding a new one / start typing to find one you've already created). The charitable sponsor is the sponsoring organization in a Donor-Advised Fund (e.g., Vanguard Charitable), this is the organization that actually gives monies to the school. You may add other members below that will receive credit.
   Next, Select the donor who will receive credit, this can be a person or a company (click on the for adding a new one / start typing to find one you've already created) > Save and Continue.
   
   Pro Tip! If the donor has a related spouse in BigSIS, you may get an option to add the spouse to the profile for credit as well.
   
   Pro Tip! If the donor would like to remain anonymous check the Donate Anonymously by Default box.
   
   Pro Tip! To easily identify the Donor-Advised Fund, keep the charitable sponsor's name in the Donor Profile's Giving Name. However, to send thank you and other acknowledgment letters to the donors who receive credit, remove the charitable sponsor's name from the Donor Profile's Greeting.
   
   
4. If you need to add more members who will receive credit for the donation, then you may do so on the next page after you initially create the donor profile. Go down to the Members in this Profile tab > Add New Member if you need to add more donors to the profile.
   
5. Once you are done with everything click Save and Back.