As a donor to the Community Foundation for Southeast Michigan, you are entitled to:
As a donor who establishes a separate fund, you have a right to:
Unrestricted and Field-of-Interest Funds: If your fund is one you establish during your life, you may request periodic information regarding the grants that have been made from it. If the fund is created at your death, your immediate heirs will be afforded the same courtesy.
Designated/Agency Funds: If you established a fund for a designated charity, you may receive information on the value of the fund and the grants made to the designated charity. Likewise, the charity will receive an annual grant-award letter explaining the amount it will receive from the fund. If an agency establishes a fund for its benefit, that agency will receive annual information on the fund's value and the grants it can expect to receive. The agency will also receive information about all donors to the fund, including the amount of the gifts received, unless the donor asks to remain anonymous.
Donor Advised Funds: If you are the advisor to a donor advised fund, you may recommend grants from the fund, provided that any given grant is at least $250. Grants will be made to public charities in the United States, provided grants do not satisfy any legal obligation or pledge of you or the founder of the fund, and that no person receive any personal benefit because of the grants. You have the responsibility to understand that all grants from the fund must be reviewed and approved by the Board of Trustees of the Community Foundation and must comply with federal tax laws.
If you are the founder of a donor advised fund, you have a right to name the advisor or successor-advisor to the fund during your lifetime, provided you have not given up that power, and further provided that all advisors do not consist of more than two generations of your family. If the advisors do not represent family members, you and the Community Foundation must address the questions of how long advisors may serve on the fund.
As a donor or advisor, you have a responsibility to: