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Business-Advised Fund Frequently Asked Questions

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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.

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

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.

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.

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

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.

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

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.

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

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.

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.

Are you ready to leave your charitable legacy?

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