Advisors

FAQ's for Advisors

What are the benefits to my client of using the Hamilton Community Foundation?
The Hamilton Community Foundation makes your client’s philanthropy simple and effective. We handle all of the administration, record-keeping, and issuance of financial statements. If your clients are uncertain about what charities or causes they wish to support, our knowledgeable staff can assist them in determining their philanthropic goals, suggesting charities of which they may not have been aware. The foundation is equipped to handle a wide variety of gifts such as real estate, publicly traded and closely held stock, and life insurance. 

How can my client learn about establishing a fund at the Hamilton Community Foundation?
If your client would like to learn more, we can send you and/or your client information with additional detail on the types of funds we offer. In addition, our staff would be delighted to speak in person or over the phone regarding the establishment of a fund. Contact us at 513-863-1717 or email Katie Braswell, Vice President at kbraswell@hamiltonfoundation.org.

What are the minimum amounts for setting up a fund at the foundation?
The minimum amount to establish a donor-advised, field-of-interest, designated, or unrestricted fund is $5,000. The minimum amount to establish a scholarship fund is $10,000.

How quickly can a fund be set up?
In one or two days. The process is very simple, and we need only to have a signed fund agreement from your client to set up a new fund. The fund will be formally established and available for grant making after charitable gifts have been transferred to the foundation.

What are the fees involved in setting up a fund?
The Hamilton Community Foundation charges no setup fees. However, there is a 1% administrative fee charged by the foundation.

Are there sample documents from which I can set up a fund for my client at the foundation?
Our legal counsel has drafted template documents that can be used to set up a fund at the foundation. You can find them in our professional advisor tool kit. Or feel free to contact a member of the Foundation staff at 513-863-1717 to obtain a sample document.

Where can I get information on investment returns of the foundation?
You may go to the financial section of our website or contact the Foundation at 513-863-1717 to obtain information about investment returns.

How does a donor-advised fund work?
A donor-advised fund may be established with a minimum gift of $5,000. At that time, your client will receive a charitable tax deduction for the gift. Your client is then free to make grant recommendations to 501(c)(3) charitable organizations from the established fund.

Can charitable funds of the Hamilton Community Foundation benefit geographic areas other than Greater Hamilton?
As a philanthropic partner, we help our donors work toward their charitable goals. Consequently, they are free to make grant recommendations outside of the Hamilton area.

Can my clients involve their children in the grant-making process?
Yes, children can be named as successor advisors to a donor-advised fund and can continue the family tradition of recommending grants. Upon the death of the successor advisors, the foundation’s board of directors will continue to make grants from the fund in accordance with client wishes.

What types of assets can my client use to make a gift or start a fund?
The foundation has the ability to accept a wide range of assets, including cash, checks, stocks or bonds, real estate, life insurance policies.

Does the foundation work with legal counsel on complex gifts?
We do work with our own legal counsel on complex gifts to ensure that they are properly documented, transferred, and valued. We encourage potential donors to partner with us by involving their own counsel in the gift process where complex assets are concerned.

Does the foundation accept contributions from individual retirement accounts?
The foundation does accept assets from individual retirement accounts, including those gifts that would be considered qualified charitable contributions under the Pension Protection Act of 2006. Feel free to contact the Foundation at 513-863-1717, if you have questions about making such a gift.

What if my clients want a gift or fund to remain anonymous?
We are sensitive to our donors’ wishes to remain anonymous. At your client’s request, we can establish a fund, accept a gift, or make a grant in an anonymous manner.