For Prospective Fundholders
What fund options are available at Seattle Foundation?
Seattle Foundation has a number of options for donors. The most common fund is the Donor Advised Fund, which allows donors a tremendous amount of freedom and convenience, as well as access to our philanthropic advising. Another option is to create a Supporting Organization that operates independently as a separate legal entity, but a donor would still receive The Seattle Foundation's expertise with regulatory reporting and grant management. We also support a range of planned gifts, including annuities and charitable remainder trusts, as well as opportunities to support our community grantmaking funds or funds supporting each of the seven elements of a healthy community.
Can I open a fund in the last week of December or is it too late?
It’s not too late. We can open a fund in a matter of hours; checks must be postmarked by December 31 and/or securities must be delivered by that date.
What is your most popular fund?
The most popular fund at The Seattle Foundation is the Donor Advised Fund. This type of fund allows an individual or family to support the issues and organizations they care about. With this type of fund, The Seattle Foundation can help identify organizations you may want to support and will verify each organization’s charitable status and mission.
How long does it take to open a fund?
We can usually open a fund within a matter of hours. We simply need a copy of the New Fund Form.
How much control and freedom will I have in recommending gifts to charities?
Donors can recommend a grant to any organization qualified as a public charity under Section 501(c)(3) of the Internal Revenue Code. The United States has more than 650,000 IRS-approved charities.
How much do I need to set up a fund?
Typically, it is expected that a donor can, or expects to be able to, contribute $100,000 to open a Donor Advised Fund . Of course, this is more of a rough guideline than a stringent requirement. We would be happy to discuss with you the best way that The Seattle Foundation can partner with you to help achieve your philanthropic goals.
How do I contribute to my fund?
There are a variety of ways to contribute to your fund, from cash to traditional equities to closely-held stock. To learn more about how to contribute, view our Asset Delivery Instructions .
Are third-party contributions to my Donor Advised Fund tax deductible?
Yes, all contributions to funds at The Seattle Foundation are tax deductible. All contributors will receive a tax receipt, though due to administrative limitations, we are unable to provide acknowledgement letters for gifts of $250 or less.