Using Your Own Counselors
Bring your lawyer, estate planner or financial advisor to the table. We all want the best for you.
We welcome your advisor at the table when discussing your charitable plans.
In fact, your professional advisor may have introduced you to Akron Community Foundation. That’s not unusual. We all share the same goal: the best outcome for your giving.
There’s no obligation, fee or deadline for the community foundation to help you with your planning. The outcome is yours to choose.
Who manages the charitable assets?
When you establish a fund at Akron Community Foundation, the assets become part of the community foundation’s assets, in accordance with charitable gift law.
If you make a large, immediate gift to establish a donor-advised fund, you may suggest that your own asset manager oversee the fund’s investments. In that situation, the following conditions apply:
- The money manager must be approved by the community foundation’s full board of directors.
- All investments must follow the community foundation’s board-approved asset allocation mix according to the investment policy statement.
- Manager performance will be reviewed quarterly by the community foundation’s Finance and Investment Committee.
If you choose to make a planned gift through a charitable giving instrument like a charitable remainder trust or charitable gift annuity, our donor services staff will sit down with you to draft a fund agreement so we have your charitable wishes and goals on record. Then, when the planned gift is transacted, we will create the fund using those assets exactly as you wished.
While charitable gift annuities get immediately invested in the community foundation’s main investment pool, charitable remainder trusts and similar planned gifts are managed through a third-party institutional trustee that is acceptable to both the donor and the community foundation.