Rolling over a donor-advised fund from one provider to another is a simple process. In fact, it is no more difficult than requesting a grant to any non-profit. That’s because all DAF providers are registered 501(c)(3) public charities themselves.
Making the Switch
If you’ve decided it’s time to consider a DAF provider that shares your principles, here’s the simple process to rollover your fund to DonorsTrust:
- Determine the new provider to whom you wish to move your funds. If you support the principles of limited government, personal responsibility, and free enterprise, you’ll find yourself well aligned with DonorsTrust. (Click here to get your free donor prospectus.)
- Open a fund with the new provider. Opening a fund is a simple process – as you already know if you have an existing DAF! (Click here to access the DonorsTrust application.)
- Request a grant to the new provider. Follow the same process you would as if you were giving to one of your traditional grantees. DAF providers regularly make grants to each other for a whole variety or reasons. It’s quite likely your provider has made a gift to DonorsTrust before. The amount is up to you. You can open a new fund with the minimum of $10,000 or you can roll over the full balance of your existing fund if you’re ready. In the memo of the grant, put your new fund name.
- Close your old fund. If you are completely rolling over your account, you can close your old account. Make sure to download a copy of your grant making history for your records. That can be helpful information to share with the new provider as it provides an accurate snapshot of your donor intent.
Philanthropy should be a joy. Working with a philanthropic partner that shares your principles makes giving easier for you and simply more enjoyable.
If you’ve felt the same pain and frustration so many of our new donor advisors have with your existing donor-advised fund, consider rolling over your account to a provider with a shared vision – DonorsTrust.
