Scott Thomas, ChFC®, CAP®, CKA®, RICP®

Quick Quiz: Private Foundation aka PF & Donor Advised Fund in 2018

True or False

 

1) A PF can receive gifts from a Donor Advised Fund?

2) A Donor Advised Fund can received gifts from a PF?

3) PF can gift anonymously to 501©3 charity?

4) Donor Advised Fund can gift anonymously to 501© 3 charity?

5) Donor Advised Fund can gift to a supporting organization or individual?

6) PF can gift to a supporting organization or individual?

7) A Donor Advised Fund does not have to disclose where gifts are made?

8) A PF does not have to disclose where gift are made?

9) Donor Advised Funds has to pay Excise Taxes on certain investments?

10) PF has to pay Excise Taxes on certain investments?

11) A donor Advised Fund has to file individually a Form 990?

12) PF has to file a Form 990 or 990 PF?

13) PF has to pay out either percentage or formula of the assets on regular basis?

14) A Donor Advised Fund can hold unusual investments like collectables, inventories, private company stock, real estate and securities?

15) A PF can hold unusual investments like collectables, inventories, private company stock, real estate and securities?

16) A Donor Advised Fund can buy tickets to gala or charity event?

17) Are these common annual costs for PF: accounting, trustee, investment management, excise tax?

18) Can Donor Advised Fund give 100% in one year (generally speaking)?

19) Can PF give 100% in one year (generally speaking)?

20) Can Donor Advised Fund shift 100% from one DAF to another DAF?

 

Answers: 1) F, 2) T, 3) F, 4) T, 5) F, 6) T, 7) T, 8) F, 9) F, 10) T, 11) F, 12) T, 13) T, 14) T, 15) T, 16) F, 17) T, 18) T, 19) T, 20) T.

 

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