Some of the major financial institutions have created separate nonprofit community foundations and are now offering donor-advised funds. While they offer the same tax deductibility as a fund at Triangle Community Foundation, donor-advised funds housed at the Foundation are relationship and service-based. With our expertise, we make donors aware of local needs and local opportunities, enabling us to create giving strategies that reflect the donors’ interests.
In contrast, commercial donor-advised funds are transaction-based. Further, we can accept the full range of gift opportunities, while commercial funds tend to be limited to cash and publicly-traded securities.
Donors to Triangle Community Foundation become part of a “community of donors” recognized in our annual report. Commercial funds are not community-based. Fees charged by the Foundation are recycled back into the community to encourage more philanthropy. Fees charged by commercial funds are plowed back into those financial institutions.