The Calvert Foundation has voted with its feet by divesting its Calvert Giving Fund, the donor-advised fund administered by the foundation, of all “companies affiliated with the Sudanese government,” the foundation announced October 11.
Donor advised funds (DAF) have become a popular way for individuals to form personal or family foundations even if they don’t have millions to endow a foundation with. Typically, costs are low as compared with establishing a foundation, yet donors can specify how and when they’d like their grants made, as they would within a foundation. Donors can have their assets appreciate as they make grants to qualified charitable organizations of their choice, on a deliberate basis and not simply timed with year-end tax planning. Starting with “as little as $5,000,” donors select a portfolio from an array of mutual funds and other investment options so that their gift can continue to grow, as charitable gifts are made from a portion of their donor advised portfolio.