Legacy Fund Resources
As an independent donor-advised fund platform and operating charity, we can help you realize your charitable goals on your terms. We created this stewardship packet to help us understand your charitable interests, goals, and timeframe. As you fill out this packet, keep in mind that you can make changes as needed.
In this packet you can:
Assign a successor donor
Establish an advisory council
Outline your charitable interests
Recommend your professional advisers (i.e. legal, investment, insurance, CPA)
Anonymous giving preferences
Outline your investment preferences for the fund (available options vary by account balances)
Additional special instructions
Successor Donor: You can designate who will continue the work of your Legacy Fund after you are gone. This can be a family member, close friend, the advisory council, your family organization/company, or an independent organization or company. You can also stipulate that the remaining balance is distributed among qualified charities of your choice and closed.
Advisory Council: An advisory council is a group of individuals that you trust to assist you in developing your Legacy Fund's charitable goals and potential impact. You determine the privileges of your advisory council. You can set up and dissolve your council at any time.
Professional Advisor: You can recommend professional advisers that you would like us to work with in regards to your Legacy Fund. These advisors can be your legal, insurance, investment, CPA, or other qualified advisors.
Recommending a grant from your Legacy Fund is easy! There are two options available to you:
1. Fill out and sign the PDF below. This can be mailed, emailed, or faxed to Legacy.
2. Fill out and sign* the electronic form below.
Please note that this is NOT a grant application form for organization's applying to Legacy for a grant.
**Legacy uses Hellosign to gather electronic signatures. After submitting the form, you will receive a signature request from Hellosign. If the form is submitted before 4 pm MST, you will receive the signature request the same day. If submitted after 4 pm MST, you will receive the request during the next business day.
1. Grant recommendation is received.
2. A Director of Donor and Charity Guidance vets the recommended recipient.
3. Our Planned Giving and Finance Controller verifies the funds are available.
4. Legacy's President and COO sign off on the grant.
5. Funds are sent via ACH or check along with a letter crediting the Legacy Fund for the donation.
If Legacy staff have any questions or the grant is not approved for any reason, Legacy will contact the donor directly and work to find a solution.
How much does it cost to open a Legacy Fund?
It's free! There are no start-up costs and there is no minimum balance requirement to open.
Is there a minimum balance requirement?
There is no minimum account balance.
Is there a minimum grant amount?
There is not a minimum grant amount; although grants are typically a minimum of $100.
Can a Legacy Fund fulfill a pledge?
A donor-advised fund cannot be used to satisfy a pledge made by the donor because it is considered private inurement. However, the donor can request that the fund make a pledge to a qualified organization.
Can a Legacy Fund purchase a table or a ticket at a fundraising event?
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What type of organizations can my Legacy Fund support?
Any qualified US-based 501(c)(3). For information regarding giving to non-501(c)(3) or foreign organizations please contact Legacy directly.
What type of assets cannot be gifted to my Legacy Fund?
An IRA RMD cannot be gifted to a Legacy Fund. For more information on using your RMD for charitable purposes please contact Legacy directly.
Check out this blog post for more information on IRA RMDs!