Use of Advised Funds continues to grow, according to a recent survey by The Chronicle of Philanthropy. More important from our view is the fact that the generous people who have established these flexible and convenient mechanisms for charitable giving continue to look for new ways to make a difference.
For these individuals, families and corporations, an Advised Fund provides an alternative to a private foundation that can be set up quickly and with maximum privacy. Advised Funds also are beginning to rival private foundations in their giving, according to the Chronicle’s report.
Community foundations help donors set up grantmaking funds in their local area, even though the donors can recommend grants near and far. Because each community foundation is independent, their Advised Fund totals are not considered as a single entity for the Chronicle survey. But the findings of the report make sense to us, as we continue to work with donors who care about improving the life of the Greater Birmingham region.
We enjoy the chance to help Hoar Construction use an Advised Fund to help people rebuild homes destroyed in deadly 2011 tornadoes. We work with individuals and families who make a difference on key results by joining our Giving Together program. In these and so many other ways, Advised Funds provide an important charitable opportunity for generous people and the communities they love.