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Donor: Any individual, corporation, or other organization that is a principal contributor of cash or other assets in order to establish a Donor Advised Fund (or other fund) at Tides Foundation.

Donor Advised Fund: Under the Pension Protection Act, enacted in August 2006 and commonly known as H.R.4, a Donor Advised Fund (“DAF”)  is defined as a fund or account to which all of the following conditions apply:

  • A donor, or a person appointed or designated by the donor, has, or reasonably expects to have, advisory privileges with respect to distributions or investments;
  • The fund is separately identified by reference to contributions of a donor or donors;
  • The fund is NOT described in any of the following exceptions:
  • Single Entity Funds: A fund or account that makes distributions only to a single identified organization or governmental entity is not a DAF.
  • Scholarship Funds: A scholarship fund operated in accordance with specific criteria is not a DAF.
  • Independent Committee Funds: A fund advised by a committee not directly or indirectly controlled by a donor, fund advisor or person related to a donor or fund advisor is not a DAF.
  • Exempted Funds: A fund that the Secretary of Treasury has determined to exempt from treatment as a donor advised fund if the fund benefits a single identified charitable purpose.

To fall within these last two categories, it appears that a special application to the IRS will be required.

Other Tides Funds: Tides Foundation also offers several other grantmaking vehicles.  These include Tides Initiatives, which leverage collective giving in strategic progressive issue areas, Global Support Funds, to support qualified non-US charitable organizations, Scholarship Funds and much more.

Fund Advisor: The person who is appointed to recommend grants out of the Donor Advised Fund.  Fund Advisors are appointed by the Donor who established the Donor Advised Fund.

Your Philanthropic Advisor: The primary Tides staff person responsible for the administration of the fund you advise.

Controlled Entity:  A Controlled Entity is a corporation, partnership, or trust or estate in which Donors, Fund Advisors, or their Relatives actually or constructively own more than thirty-five percent of the total combined voting power, profits interest, or beneficial interest, respectively. 

Relative: A Relative of an individual includes: the individual’s spouse, ancestors, children, grandchildren, great grandchildren, the spouses of the individual’s children, grandchildren, and great grandchildren, the individual’s brothers and sisters (by whole or half blood), and their spouses.