Donor-advised funds are charitable giving vehicles through which donor recommendations for grants (distributions) to charities may be made at any time. All grant recommendations received from donors are subject to approval by the Board of Directors of the Foundation, which retains exclusive control and discretion in accordance with applicable IRS regulations.

The RCGF program enables individual donor-advised funds to  operate efficiently, and at minimal cost, by pooling contributions from multiple donors for investment management and administration purposes. "Sub-accounts" are maintained within RCGF for each fund established that reflect individual contributions, investment return, and grants made from each fund.

DONOR:

A Donor is identified as follows and has the following rights:

• Appears on the application;
• Can recommend an investment advisor;
• Can appoint "successor donors" while living or through written instrument at death;
• Can appoint and remove Grant Advisors;
• Can make grant recommendations for all or part of the fund, acting individually; and
• Can make grant recommendations both during lifetime and through written instrument at death.

NON-VESTED DONORS:

A Non-vested Donor contributes to the fund but has no rights with respect to the fund.

GRANT ADVISORS:

• A Grant Advisor is appointed or removed by a Donor and;
• Can make grant recommendations subject to any restrictions on grant recommending authority imposed by the Donor who appointed them; and
• Cannot name successors.

SUCCESSOR DONORS:

A Successor Donor has no rights until they succeed the Donor who appointed them.  Upon the resignation or death of the Donor, the Successor Donor acquires all of the rights of a Donor.

The Foundation will accept charitable contributions from individuals, companies, trusts, estates, and other entities.

DONOR OF RECORD

If there are multiple donors, one donor must be designated as the Donor of Record.  Only the Donor of Record will receive reports from the Foundation.  All donors have the right to appoint a successor to assume his or her rights as a donor upon his or her resignation or death.

All initial contributions to the Foundation must be accompanied by a completed application to establish a donor-advised fund. A donor’s initial contribution must have a minimum fair market value of $5,000. Unless otherwise indicated, the first donor named on the application receives written confirmation of the contribution and is deemed to be the Donor of Record.  Contributions, after acceptance by the Foundation, may be liquidated and reinvested by the Foundation.  Contributions that are not accepted will be returned.

TYPES OF CONTRIBUTIONS

Charitable contributions may be in the form of cash, mutual fund shares, publicly-traded stocks and bonds. Real estate, closely-held stock, and other hard-to-value assets also may be contributed to the Foundation if approved by its Board of Directors. For information on contributions of hard-to-value assets, please call the Foundation at 866.803.0389.

Additional contributions to the Foundation of $250 or more may be made at any time by any eligible Donor or Non-vested Donor and must be accompanied by a completed Additional Contribution Form. Contributions are made directly into a brokerage account established in the name of the Foundation, and are accounted for within RCGF by using the fund's "sub-account," as mentioned above. Additional contributions, after acceptance by the Foundation, may be liquidated and reinvested by the Foundation. As with an initial contribution to the Foundation, the donor receives written acknowledgment of each additional contribution.  Contributions that are not accepted will be returned.

CONTRIBUTIONS ARE IRREVOCABLE

Once a contribution is accepted by the Foundation, the gift is irrevocable and may not be refunded.  All accepted gifts become the property of the Foundation.

TESTAMENTARY GIFTS AND GIFTS FROM TRUSTS

You may name your gift fund as the beneficiary of a bequest of cash, securities, mutual funds, or IRA assets.  Additionally, you may name your gift fund as the beneficiary of a charitable remainder trust, charitable lead trust or life insurance policy.  A successor donor must be chosen for all testamentary and trust gifts.  Please be sure to contact your tax and legal advisor before setting up any testamentary gift.

PROCESS FOR ASSETS CONTRIBUTED

Investment Recommendations:  The Foundation will consider recommendations made by the donor and the donor's investment advisor.  If the donor does not make investment recommendations or does not recommend an approved investment advisor to manage the assets, the Board will appoint an investment advisor to invest the funds in accordance with the Foundation's investment policy.

Cash:  Cash contributed to the Foundation will be invested in accordance with the investment policy set forth by the Board of Directors.

Securities:  Securities, including mutual funds, accepted by the Foundation may either be held or sold in order to comply with the Foundation's investment policy.

Real Estate and other hard-to-value assets:  All hard-to-value assets accepted by the Foundation will be sold.  Donors and their investment advisors can recommend specialists to assist with the sale as appropriated.  The proceeds of the sale of hard-to-value assets will be invested in suitable investments in accordance with the Foundation's investment policy.

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