Your donor-advised fund at ProvisionBridge is an easy, tax-efficient way for you to manage all your charitable giving to those in need. When you make a contribution to your fund at Provision Bridge, it typically qualifies you for an immediate federal income tax deduction up to the maximum allowed by law. You have the privilege of recommending grants to most public charities at any time – now or in the future. The fund also makes it easy to keep track of all your giving in one place with regular reports on contributions, grants, investment income, and fund balance.
To get started, you’ll need to complete the Fund Application which requires you to make the following decisions:
Identify the Donor on Your Fund
Any individual at least 18 years old, other charities and private foundations, and business entities can set up a fund. An individual must be named as the donor for the fund on the application. As a donor, you enjoy the privilege of naming your fund, recommending grants, and recommending a succession plan. Each donor is required to read the Program Guide and sign the Fund Application.
Name Your Fund
You must provide a name for your fund on the application. This name will appear on all correspondence including grant checks from your fund, unless you ask to remain anonymous. For example, you may name the fund for yourself (The John Doe Gift Fund), for your family (The Doe Family Gift Fund), in memory of someone, or for a particular cause (Help the Homeless Gift Fund).
An individual must be named on the application as the primary advisor for your fund. As the donor, you may act as the primary advisor. If you wish, you may also authorize additional advisors to make grant and investment recommendations. Please stipulate on the application whether their advice must be approved by the primary advisor. You may change advisors at any time by written request.
Make an Initial Contribution
An initial contribution of at least $5,000 is required to establish your fund. You may make your gift by cash, credit card, bank wire or the transfer of publicly traded securities or mutual fund shares. Please make checks payable to ProvisionBridge. Call us for instructions on how to make wire transfers or asset gifts or click the “on-line donation” tab make a credit card payment.
CAP | Corporate Assistance Program Fund
If you opened or are opening a CAP Program fund the steps above are basically the same. The authorized advisors on the account must be an individual or individuals designated to oversee the CAP program and authorized to move funds into the account. Please see the CAP Program page for more information, click here for the CAP Program or in the menu above.