Some interesting observations today in the New York Times about Donor Advised Funds and how they are operating in the USA. In the UK, I don't believe we are there yet but I am aware of several investment houses in the UK who are starting to become very active in the Philanthropy Services / Donor Advised Fund market.
However, I believe this offers a great opportunity for UK Community Foundations, being not investment fund managers but instead local charities playing a key role in their communities.
Likewise any charges / contribution we take actually helps to further our wider work of convening others for social good via our well-connected networks and supporting those working within the local charitable sector. The current strategic priority for OCF is continued development of an appealing (to donors) yet cost effective model in which to grow our charitable funds whilst at the same time establishing long term relationships with those who have the capacity to help us achieve this.
As a charity, my board of trustees are well aware of their responsibility to distribute all available funds to support an increasingly diverse range of charitable projects and community initiatives.
Should you need to be persuaded further perhaps, you might like to hear words of support from Mark Carney, Governor of the Bank of England commenting on the role Community Foundations are playing in trying to build a more inclusive social capital throughout the UK.
We are delighted to have such great testimony for everything Community Foundations together with their supporters are doing across the UK to make this happen.
For more information on Donor Advised Funds please take a look at our website http://oxfordshire.org/giving/giving-individuals-families/
Donor-advised funds run by huge money-management firms are exploding. Fidelity Charitable runs the second-ranked charity in the United States, according to the Chronicle of Philanthropy, behind United Way Worldwide. Charles Schwab’s is fourth and Vanguard’s is 10th. People aren’t actually giving to these companies. They are setting up accounts at these firms and then disbursing the money, advising on which charities get how much.