Covenant Donor Advised Funds
A Covenant Donor Advised Fund offers the opportunity to remain actively engaged in the gift making process by directing the disposition of gifts to Covenant and/or other ministries over a period of time.
How a Donor Advised Fund works:
- You transfer assets with a minimum value of $10,000 to a Covenant Donor Advised Fund and receive a charitable contribution deduction
- A formal agreement establishing your Covenant Donor Advised Fund is prepared and signed, setting forth details and distribution provisions
- The Donor Advised Fund agreement designates who can direct gift distributions from the fund
- A minimum of 5% of the value of your Donor Advised Fund on January 1 must be distributed in each calendar year
- You can add additional amounts to your Covenant Donor Advised Fund
- Assets in Donor Advised Funds are managed by Covenant Trust Company®
Does the flexible convenience of a Covenant Donor Advised Fund fit into your charitable giving plans? Contact our office. We're happy to answer your questions and help you get started.