There is a $200 minimum per recipient for distributions for a donor advised fund.
The ELCA Foundation typically will distribute funds within 30 days of receipt of the advice form.
No more than 10 beneficiaries may be named in a completed advice form.
A minimum of 70% of distributions must be directed to ELCA-related ministries. A maximum of 30% may be distributed to U.S. domestic organizations recognized as “public charities” by the IRS as determined by 501(c)3 charitable organizations not affiliated with the ELCA and is consistent with the mission of the ELCA. This rule applies to total distributions in a calendar year. The ELCA Foundation must have on file a W-9 or tax-exempt determination letter for each 501(c)3 organization.
Donor advice requests must be approved by the ELCA Foundation. A request can be denied for any reason. If a request is denied, a representative from the Foundation will inform the adviser(s).
There is a $10,000 minimum account balance for donor advised funds.
Donors can add funds to their donor advised fund by contacting their regional gift planner.
The Endowment Fund Pooled Trust is a long-term investment. ELCA Foundation donor advised funds are best suited for donors who want to distribute funds over a long period of time, similar to the way an endowment works but offering the flexibility to make additional gifts at the request of the adviser(s).
A distribution cannot be used to satisfy a legally binding charitable pledge, which may legally require a person to follow through on its terms. Further, the distribution cannot provide any personal benefit to the donor or adviser.