Mission Fund FAQ
A Mission Fund (also called a donor-advised fund) is a flexible, simple and easy way to manage your charitable giving. Think of it as your charitable checkbook. You can make tax-deductible gifts into your Mission Fund (a deposit into your checking account), and then you recommend grants from that Fund over time (writing a check from your checking account).
It's like having your own private foundation, but with none of the hassles (and costs) and all of the joy. And we do almost all the work!
Yes. You will be given a tax-deductible receipt for your gifts into your Mission Fund, and you can make as many gifts into your fund as you like.
On the upper right-hand corner of the website is a button called "Fund Login." Simply click once on this link to take you to the fund management area.
A grant is a monetary gift you recommend to be given to a charitable organization from your Mission Fund.
Grants can be of virtually any size. You can send out one grant a year, or fifty grants a month. It's totally up to you (and the balance in your fund, of course). We do all the administrative work of verifying the organization (a critical step), writing and mailing the check, and following up to make sure the check was received.
Yes! Some or even all of your grant recommendations can be sent anonymously to the recipient organization.
We cannot make grants to individuals. All grants must be sent to an IRS approved organization or church. The Generosity Trust does have an innovative scholarship program to help support qualifying individuals raise support for college, seminary and other educational opportunities. Read more in Timothy Scholarships.
We generally mail grant checks on the same day you recommend the grant. Occasionally, it may take several days, if the ministry or church is a new ministry to us. In those cases, we are required to do due diligence to ensure that the ministry is indeed a 501(c)(3) organization, and not engaged in any activity we would not want to be associated with. We also have to ensure that no benefits would potentially flow back to you (seats at a banquet, a round of golf, etc). In those cases, we have to carefully work out the parameters of the gift to as to not run into trouble with the IRS.
You get immediate on-line access to your account (to make gifts in, look up previous grants, make grant recommendations, etc), and we can also mail or e-mail you monthly statements.
We can accept cash, checks, publicly traded securities (like Apple stock), real estate (with no debt), privately-held stock (like in an S-corp or a C-corp or an LLC), and other creative gifts as well. We'd be happy to talk with you and work with your financial advisors to help you make the most of your charitable giving.
There are no costs to establish a Mission Fund with The Generosity Trust, and no costs for grant checks, mailings, statements, or on-line access. We absorb that cost for you. There may be costs involved in the investment of the assets in your Fund, depending upon the type of Mission Fund you choose. See Types of Mission Funds for more information.