We can tailor a giving program just for you—a marriage of the heart and the mind. Create a legacy to meet Long Island’s needs now and in the future, or contribute to your favorite charities through a donor-advised fund today. If you are interested in a type of fund that is not listed here, please contact our donor relations director, Marie Smith. We offer a range of funds. Here are the four most popular:
UNRESTRICTED FUNDS provide maximum flexibility to address Long Island’s needs—today and tomorrow. Your gift will support effective nonprofits working on the most pressing problems.
FIELD-OF-INTEREST FUNDS focus on your particular areas of charitable interest, such as hunger, education, or health care. You define the purpose(s) and we find and fund the best nonprofits to advance your philanthropic goals.
DESIGNATED FUNDS allow you to name the charity, or charities, that you want to support. We invest the money, regularly make grants in your name, and monitor these organizations.
DONOR-ADVISED FUNDS are a good fit for those looking to streamline their giving in a tax-smart way. You and anyone you appoint as an advisor can easily recommend organizations to receive grants. It’s simple: You recommend the organizations using our simple online portal, we do the due diligence and the paperwork. (Please note that by law, we cannot be bound by these recommendations, but we take them very seriously and approve grants to nonprofits that meet charitable and financial standards.)
Protect the environment, provide opportunities to children, support artists, improve Long Island. Whatever you choose to support through your permanent fund in the Long Island Community Foundation, you will be remembered as a champion of the causes dear to you.
Consider the options for your private foundation. Your foundation can start a fund at LICF. Or you can dissolve the foundation—and avoid the record-keeping the IRS requires, not to mention possible disagreements among heirs or board members in the future.
With a fund in the Long Island Community Foundation, you can meet your charitable goals with lower costs and fewer hassles than a
All donor-advised funds, regardless of size, are assessed the same annual administrative fee. It is the greater of:
50 basis points (5/10 of 1%) of the average market value (Example: Average market value of $300,000 = $1,500)
2.5% of grants paid (Example: Grants of $15,000 = $375). The fee on an individual grant of $500,000 or more is reduced to 1%.
The fee is based on market value and taken in quarterly installments. If the fee collected by the end of the year is less than 2.5% of grants paid, then the difference will be withdrawn during the first quarter of the following year.
In addition, the interest earned on cash waiting to be distributed in grants is used to defray The Trust’s administrative expenses, helping to keep the fees low. (This cash is identified as the “Grantmaking Account” on the donor statement.)
The minimum annual fee is $100.