One concern I have with the Community Foundation in Boulder is it’s not clear how committed they are to letting donors direct money however they want. Unlike the national DAF providers (Schwab, Vanguard, Fidelity), it seems like there’s a decent chance they will at some point change their mind and decide you are only allowed to give to the causes that they like. How are you thinking about that risk?
I don’t think that’s how DAFs work? I believe the DAF legally owns the money and can do anything they want with it. You can ask them to donate the money to a different DAF that you created, but they have the right to refuse to do that.
I confirmed with them that the donor has the control of where the money goes, unless they deem it a hate group. And they are also okay with transferring to another DAF.
One concern I have with the Community Foundation in Boulder is it’s not clear how committed they are to letting donors direct money however they want. Unlike the national DAF providers (Schwab, Vanguard, Fidelity), it seems like there’s a decent chance they will at some point change their mind and decide you are only allowed to give to the causes that they like. How are you thinking about that risk?
I’m fairly sure I could change custodians if that happened (like people can do with retirement accounts).
I don’t think that’s how DAFs work? I believe the DAF legally owns the money and can do anything they want with it. You can ask them to donate the money to a different DAF that you created, but they have the right to refuse to do that.
I confirmed with them that the donor has the control of where the money goes, unless they deem it a hate group. And they are also okay with transferring to another DAF.
Good to hear, thanks for confirming!