How do I choose between a one-time gift to a
nonprofit and creating a Family Fund?
Do I have to have the money in hand before I start a Family Fund?
Which organizations will my fund support?
Who decides which nonprofit organizations the focus areas support?
Can I change my giving choices once a fund is created?
Can I change the focus area of my family fund after my wedding?
How will my fund be invested?
When will nonprofits receive donations from my fund?
How can I stay involved with my fund?
Can I continue donating to my fund over time?
Can I get a tax deduction for my fund?
How do I name my fund?
What happens if I return a gift?
Will nonprofits know who I am?
Is it possible to grow from a Family Fund to a Donor-Advised Fund?
Can I suggest a nonprofit as the recipient of my Donor-Advised Fund?
Does the I Do Foundation take any fees for managing my fund?
How do I choose between a one-time gift to a
nonprofit and creating a Family Fund?
The I Do Foundation enables you to make a one-time donation to your selected
charitable cause or create a life-long Family Fund that will generate
donations for nonprofits every year. We suggest that you only create a
Family Fund if you plan to raise significant funds through your wedding.
Family Funds require a minimum donation of $250. If you think you might be
interested in a Family Fund but are not sure, think about the type of
donations you think your wedding will generate. While it's difficult to
know, you might have a sense about whether your guests will mostly be buying
gifts (and raising up to $10.00 per every $100 gift) or whether your guests
will be making direct donations. If you think your wedding is likely to
generate $250 or more in donations, than a Family Fund might be for you.
Otherwise, a one-time gift might be the best option.
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Do I have to have the money in hand before I start a Family Fund?
No. As described above, we ask you to make a "guestimate" about the
donations your wedding will generate. If you commit to a fund but do not
raise the minimum amount of donations, we will work with you to raise the
additional funds or shift to a celebration gift. You have one year from the
date of your wedding to reach the minimum amount.
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Which organizations will my fund support?
That depends on you. Couples who create Family Funds designate the focus
area that they would like to support for the long-term. The I Do Foundation
then distributes the proceeds from these funds to the designated focus area
through a grantmaking process every year. As a result, the recipients of
the Focus Area Funds will change every year, but the criteria for the focus
areas will remain the same. Every organization that receives I Do
Foundation funding through our grantmaking program must have a strong focus on issues of social justice or
equity for low-income or underserved populations. To see some examples of
the types of organizations the I Do Foundation will support, review our
current partners for each focus area:
Children, Youth, and Families
Community Development
Education
Environment
Health
Social Justice
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Who decides which nonprofit organizations the focus areas support?
The I Do Foundation Grant Review Committee makes recommendations to the
Board of Directors, which then makes final grant decisions.
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Can I change my giving choices once a fund is created?
You can change your Donation Options up until the day of your wedding. If
you would like to edit your options, you can do so through the Donation
Options page. If you would like to switch to a one-time gift, you must do
so before any donations are made. To do so, go to
the bottom of the Donation Options page and select the option to create a
one-time gift.
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Can I change the focus area of my Family Fund after the wedding?
Yes, you can change your focus area. However, the Foundation must receive a
signed letter from you requesting this change. Further, the Foundation must
receive your letter of request before October 1st for the change to become
effective for that year's grantmaking activity. Contact a member of the
Foundation staff for more information
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How will my fund be invested?
Your fund will be invested with other family funds and the Foundation's
endowment, which is managed by Capital Financial, LLC. The income generated
from the investment of your donations is directed to nonprofit
organizations in your chosen focus area or reinvested to increase the size
of your fund. A donation equal to at least 5% of your total fund balance
will be made to organizations in your chosen focus area on an annual basis.
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When will nonprofits receive donations from my fund?
The interest generated by your fund will be dispersed annually. Donations
will be distributed during the first grantmaking period following your
wedding date.
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How can I stay involved with my fund?
You will receive an annual statement of your fund balance. In addition,
when the Foundation has concluded its grantmaking activity for the year,
you will be informed of the organizations that were supported through your
Family Fund. At any time, you can continue to grow your fund by making a
tax-deductable donation.
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Can I continue donating to my fund over time?
Yes. While you have no commitment beyond your wedding, the family funds
have been created as a life-long giving tool. Therefore, you are encouraged
to consider growing your I Do Foundation fund over time, and our staff will
be happy to work with you to develop the right philanthropic strategy for
you. With the right planning, your fund can become an excellent financial
planning tool, in addition to the social benefit it creates.
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Can I get a tax deduction for my fund?
You only qualify for a tax deduction when you personally make a donation to
your Family Fund. Annual interest earned and donated is not tax deductible.
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How do I name my fund?
It's up to you. Many people chose to name their fund in honor of their own
wedding or their families, such as the Gutierrez Family Fund or the Johnson
Memorial Fund. Just choose something meaningful to you, and you can change
the name up until the day of your wedding by going to Donation Options
Status.
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What happens if I return a gift?
Your I Do Foundation gift registry raises donations for every gift
purchased. Conversely, your donation is deducted for every returned item.
It is certainly understandable that every couple will need to make some
returns within a year of the wedding, and our system has been designed with
this in mind. However, if you expect to make a large number of returns, the
I Do Foundation may not be the best registry partner for you.
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Will nonprofits know who I am?
Many of our organizations would like to express their thanks for your support, and they appreciate the opportunity to know who you are. However, if you would prefer not to share your name with your nonprofit recipient, please let the I Do Foundation know by submitting a request to customer service. The names of your guests automatically remain private.
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Is it possible to grow from a Family Fund to a Donor-Advised Fund?
Yes, it is possible, both before and after your wedding. For example, if
you begin with a Family Fund and then find that your guests have donated
more than $5,000, you can shift your fund to a Donor-Advised Fund by
working with the I Do Foundation staff. Additionally, you may wish to make
additional donations to your Focus Fund over time (for example, on your
fifth wedding anniversary). Once your Focus Fund exceeds $5,000, it becomes
a Donor-Advised Fund and you have the opportunity to choose the
beneficiaries of the fund every year.
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Can I suggest a nonprofit as the recipient of my Donor-Advised Fund?
Yes. Once you have created a Donor-Advised Fund, you can work with Foundation staff to suggest a nonprofit organization to be the recipient of your fund.
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Does the I Do Foundation take any fees for managing my fund?
Each year, the I Do Foundation takes a 1% fee (taken from the
investment income generated by your fund) for the management of your fund.
This fee is comparable to the management fees taken by other major
community foundations.
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