GREATER EDWARDSVILLE AREA COMMUNITY FOUNDATION   
-- YOUR COMMUNITY FOUNDATION

P.O. Box 102
Edwardsville, IL 62025

donor advised fund

Guidelines and Procedures

General Fund

1. Minimum contribution to establish a fund: $2,500
   
   
2. Minimum fund balance required to make an initial grant: $10,000
   
   
3. Time to reach minimum fund balance: 4 years.
   If not reached, fund balance will be transfered to the Foundation General Fund.
   
   
4. Additional contributions: Any Amount
   
   
5. Minimum Grant from fund: $250
   
   
6. Minimum calendar year distribution: None, unless required by law
   
   
7. Donor Advised Grants in a calendar year must include grants of at least 50% of the total to the Foundation (Except the Foundation Donor Advised Funds) OR to another "Local Qualified Organization." If donor fails to advise the Foundation of the 50% grants by December 31 of that calendar year, donor understands that the Foundation will make the 50% grants from the funds without donor's advice.
   
   "Local Qualified Organization" is an organization qualified by the IRS to receive tax deductible contributions whose registered agent's office is located in the Edwardsville Community Unit School Distrit 7 and at least 50% of the recipients of its services are residents of District 7.
   
   
8. After the $10,000 minumum fund balance is reached, a decrease in the fund balance to $2,500, or less, will trigger a written notice from the Foundation to the Donor to:
   
   
   • Make grants to reduce the fund balance to zero within 6 months
     
     OR
     
     
   • Make a written commitment within 6 months to restore the fund balance to at least $10,000 within 4 years (restoration of fund balance to $10,000 is required to make grant(s))
     
     OR
     
     
   • if no response, fund balance will be transferred to the Foundation General Fund.
     
     
9. See Donor Advised Fund Agreement Form (PDF) for other guidelines and procedures.