Donor Advised Funds

Harness the Giving Power of a Private Foundation—Without the Complexity

Want to learn more about donor advised funds? View and download the complimentary guide One-Stop Giving: The Convenience and Simplicity of Donor Advised Funds.

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Are you looking for an easy, cost-effective way to support Cornell College and other causes you love? A donor advised fund, which is like a charitable savings account, may be the right choice for you.

Here's how it works. You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted to Cornell College or other charities—sometimes as easily as using a Web portal. And you avoid the cost and complexities of managing a private foundation.

What do you receive in return? An immediate federal income tax charitable deduction at the time you contribute to the account, and the power to make recommendations on which charities to support whenever you want. You centralize your giving and record-keeping in one location. And maybe best of all, you can start a legacy of giving by letting your children help decide which grants to recommend.

Here is a Potential Scenario

Happy familyAlumni Joe and Laura want to give back to Cornell College and other charities by putting their money where it will do the most good. They establish a $150,000 donor advised fund with a financial institution. The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support. Joe and Laura recommend grants for Cornell College (which they've supported for years). The financial institution presents Cornell College with checks from the Megan Fund, which Joe and Laura named in honor of their granddaughter. Joe and Laura are delighted to start this personal legacy of giving. 

Learn How to Fund It

Create a donor advised fund with one of the following assets:

Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Seek the advice of your financial or legal advisor.
  4. Contact Kristi (Webster) Columbus '96 at 319.895.4315 | 877.683.7666 or giving@cornellcollege.edu to discuss using donor advised funds to support Cornell College and our mission.
  5. If you include Cornell College in your plans, please use our legal name and federal tax ID.

Legal Name: Cornell College
Address: 600 First Street SW, Mount Vernon, IA 52314
Federal Tax ID Number: 42-0680335

Want to learn more about donor advised funds? View and download the complimentary guide One-Stop Giving: The Convenience and Simplicity of Donor Advised Funds.

View My Complimentary Brochure