Business-Advised Funds

Through a corporate giving fund we can support your company's goals with a full spectrum of services, including grantmaking, due diligence, site visits and community updates. 

Work with our staff to identify ongoing uses for your fund, targeting the issues you care about most. Grant awards are issued to nonprofits in the name of the fund (or anonymously if you prefer). It's a simple, powerful, highly personal approach to giving.

Travis Wolff

Enabling Employees Pays Off

The team of independent accountants, advisors, and administrators at Armanino would rather spend their time working together to help others than vetting the many nonprofit organizations. That’s why Armanino established a business-advised fund at CFT.

Business-Advised Fund Frequently Asked Questions

What are the benefits of companies working with CFT?

CFT's staff has a vast amount of information for businesses wanting to get involved with philanthropy, volunteering and setting up a philanthropic plan. 

How do I set up a business-advised fund?

Setting up a business-advised fund is easy and can be done within 24 hours. All you need to do is select a name for your fund, sign a grant agreement and contribute at least $10,000 to get started.

What is the minimum amount required to open a business-advised fund?

$10,000 is the minimum required balance. We manage funds as large as hundreds of millions.

How do I make grants?

In your fund agreement you will identify fund advisors who direct the grantmaking. The fund advisors will receive access to our online portal where grantmaking is easy. Our staff is also here to assist donors in grantmaking.

Can more than one person be an advisor?

Yes. In addition to individuals, groups, boards and companies can also be named.

Can a donor advisor change current advisors or name successor advisors?

Yes. Successor advisors may be named at any time. Fund advisors can also be changed at any time. A majority of fund advisors must approve a change. Please contact us for the necessary form.

How often can grants be recommended?

As fund advisor, you can recommend grants as often as you like and have sufficient balance in your fund.

What kind of grants can a business-advised fund recommend?

Business advised funds can recommend grants to any nonprofit organizations in support of charitable activities. Donors can choose to name a cause or philanthropic interest or have a broad scope of giving.

Can these funds recommend grants to individuals?

No. The Pension Protection Act of 2006 prohibits making grants from business advised funds, including scholarships, directly to individuals. Grants must always be made to a qualifying nonprofit organization.

Is fundraising for a business-advised fund permitted?

Yes, but we ask you to contact us prior to beginning any fundraising efforts so we can talk about the guidelines and policies. This also ensures we can properly acknowledge gifts received from fundraising activities. Also, it's important you know that fundraising expenses cannot be paid out of a business advised fund.

Do grants have to be made every year?

No. Grants do not have to be made every year. However, if no grants have been made from a fund for three years, we will collaborate with the fund advisors to be sure the charitable purpose of the fund is accomplished.

Sarah Beeks HigdonSarah Beeks Higdon, MBA, CAP©
Director of Charitable Giving, Collin County

Carolyn A. Newham, JD
Senior Director of Donor Relations & Fund Administration

Contact one of us to set up a business-advised fund.

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