Eligibility

An Endowed Donor Advised Fund is open to individuals and entities interested in making a commitment to long-term giving. Examples of individuals are you, your spouse, a trust or estate. Examples of entities[1] are a family business, a company or a corporation.

The individual or entity establishing the Fund account is automatically designated the Donor of Record, and is the sole donor to receive all correspondence, reports and account statements.  Other individuals or entities named on the Fund account application are designated as Donors. 

 


[1] Fund accounts established by an entity are subject to Friends of Bermuda Community Foundation Board approval and require an individual’s name, contact information and social security number or tax identification number.

Establishing Your Fund Account

Forms

To establish a Donor Advised Fund, you will be asked to complete a Gift Intention Form.  However, before completing the form, we invite you to contact us to discuss the type of gift you would like to meet and the type of donor fund that is best suited to fulfill your philanthropic wishes.  You can expect to be asked the following types of questions.  Click Here - Donor Info.  Call (441) 294-49559 to discuss the fund establishment process.  To access a Gift Intention form, click here.

Name the account

Choose a name for your Donor Fund. For example, you may choose to use a family, relative or friend’s name (“The Smith Family Fund”) or to honor a specific cause (“The Marine Protection Fund”).

Identify other Donors (optional)

As the Donor of Record, you may name other donors to the Donor Fund account when you establish it or at any point during your lifetime. You will be asked to submit details to amend your donor fund information.

Make a contribution

If you are an individual establishing a Donor Fund, you will be required to make an initial irrevocable contribution of $25,000 or more. Entities make initial irrevocable contributions of $100,000 or more.

Your investment

Please contact Friends of Bermuda Community Foundation for information on the Fund’s Investment Policy.

Identify Fund Advisors(s) (optional)

You may choose to identify a Fund Advisor or Fund Advisory Committee at the time you establish your Donor Fund or at any point during your lifetime. The Chair of the Fund Advisory Committee is an individual who will carry on your philanthropy by assuming the role of Donor of Record or an Board approved charity(ies) that will receive your account balance upon the resignation and / or death of the last Donor(s) associated with your Fund account. You are not required to name a Fund Advisor(s) to establish a Fund account.

The following guidance may be helpful in “Determining Your Fund Advisors”  and further pursuing your philanthropic goals.