Suggested Language: Donor Advised Fund

Language for Trust or Bequest to Establish a Donor Advised Fund in The Rhode Island Community Foundation

I give, devise, and bequeath to The Rhode Island Community Foundation, a Rhode Island nonprofit corporation (the “Foundation”), the following assets:

[insert specific assets, dollar amount, percentage, or residuary]

to create a Donor Advised Fund (the "Fund"). The Fund shall be known as The [Name] Fund of The Rhode Island Community Foundation.

In connection with the establishment of a Donor Advised Fund with The Rhode Island Community Foundation, I do hereby acknowledge the following:

1. That I have received, read and understand the "Guidelines for Donor Advised Funds" promulgated by the Foundation. These guidelines may be amended by the Foundation from time to time.
2. That I understand that the United States Department of the Treasury (“Treasury Department”) has adopted regulations that prescribe how the Foundation should handle recommendations for grants to charitable organizations from advisors. While the Foundation welcomes an advisor’s grant recommendation as long as the grantee organization is recognized as a public charity or governmental entity by the IRS, in keeping with the Treasury Department’s regulations the Foundation retains the right to approve or disapprove of grant recommendations based on an independent investigation of each charitable organization.
3. Distributions from the Fund, as determined by the Foundation’s spending rule in effect at that time, shall be used and disposed of for charitable purposes under and in accordance with the provisions of the Articles of Incorporation establishing The Rhode Island Community Foundation and subject to the approval of the Foundation's Board of Directors. The provisions of this section directing distributions from the Fund to be made as determined by the Foundation’s spending rule shall apply, irrespective of the provisions of any state’s Uniform Management of Institutional Funds Act or Uniform Prudent Management of Institutional Funds Act, as currently in force or as hereinafter enacted, superseded or amended.

I designate the following individual(s) as current advisors authorized to make grant recommendations:

[For Funds with Multiple Advisors]: I appoint the following individual as Primary Advisor for the above referenced Fund:_________________________. The Rhode Island Foundation may accept grant recommendations from the Primary Advisor and will assume that this individual duly represents the other advisors to the Fund.