Frequently Asked Questions: Donor Advised Services

Who takes care of the paperwork?

North Star Fund handles all the administrative record keeping so that you can focus on your charitable interests.

How large can my tax deduction be?

You may deduct up to 50% of your adjusted gross income. For contributions to a private foundation, the limit is 30%.

Can I take my deduction this year and take more time to complete my grantmaking?

You get an immediate tax deduction for contributions to the fund, even though your grant requests may span several years.

How much does it cost?

See our full schedule of fees. We waive the fees for donor advised services for our major donors.

Will I be chained to a time-table for my grantmaking?

You recommend grants when you’re ready, not when some timetable says so. We simplify your record keeping by providing you the necessary tax acknowledgements and easy-to-read statements.

How will my donor advised fund support North Star Fund’s other grantmaking?

Your donor advised fund supports our activist-led grantmaking in significant ways. Administrative fees add to the funds available for our other grants. And many donors choose to support groups already recognized by our Community Funding Committee for doing effective cutting-edge work.

Who will be managing my fund?

You get the full support of an established, well-respected institution at very modest fees. Your fund is managed by our professional staff working with expert advisors.

Can I get help selecting groups?

Absolutely. North Star Fund can help you find the groups working on the issues that you care about. For a modest fee, you get access to the expertise of our professional grantmaking staff. And with our finger on the pulse of grassroots organizations in New York City, we can find the most effective groups that match your philanthropic priorities.

Can I give grants from my donor advised fund to individuals?

No. IRS regulations prevent us from giving grants to individuals from donor advised funds. However, we can set up other types of funds that are able to make grants to individuals.

How doI get started?

If you’re interested in learning more about our donor advised services or setting up a donor advised fund, please contact cori schmanke parrish at cori@northstarfund.org or (212) 620-9110.

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