Frequently Asked Questions

Question:

How does a fund at TCF differ from a charitable fund created at a financial services firm, such as Fidelity?

Answer:

While the donor-advised funds available through some of the major commercial institutions 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. Donors to Triangle Community Foundation become part of a “community of donors” focused on strengthening our Region, and are recognized as such in our annual report.

In contrast, commercial donor-advised funds are transaction-based. The commercial institution cannot provide guidance or insight into the community, its needs or nonprofit leaders. Nor do the fees charged against these commercial funds support philanthropy in the Region. Fees charged by TCF are recycled back into the community in programming and cultivation of philanthropy.

Finally, the Foundation can accept the full range of gift opportunities, while gifts to create funds at commercial institutions tend to be limited to cash and publicly-traded securities.