Create a Legacy of Generosity: Set Up a Giving Fund for Someone You Care About

December 9, 2020
Use cases

Starting a giving fund for someone fosters an opportunity for connection and inspiration

Generosity is a fundamentally relational pursuit. In that spirit, the only thing better than giving to others is giving with others, especially with the people we care most about. 

Meaningful things are best shared with those who mean the most to us.

As we commit to generosity, it’s a beautiful thought to imagine close family, friends, and colleagues walking alongside us on the journey of giving. Our commitment can inspire others to be generous as well, which brings life and connection.

If you have resources set aside for giving, or you plan to have them, why not set up a giving fund for each of your closest family members, friends, partners, or employees?

Offering charitable resources for others to give can create deeper connections in your relationships and friendships, and it can also spark a charitable pattern of behavior in the receiver as they begin to enjoy the giving.


It’s a high-leverage way to create more impact

When you start gifting funds for others to give with, the money still goes to charity (it legally must), but you’ve increased your generosity “footprint,” so to speak, by inspiring others to be involved in giving. This can lead to a substantial impact over the lifetime of those you influence—potentially remarkable “return" on your investment.


It’s simple to start a charitable giving fund for someone via Charityvest

Charityvest enables our donors to create giving funds for others simply, without tax or administrative complexity or fees. To do this, you use money already in Charityvest fund (already tax-deductible to you).

To set up a charitable fund for someone, all that is required is to send a “Charity Gift” in Charityvest to the receiver’s email address. When you do so, you’re sending funds that will start or accelerate their giving fund. Let me explain some of the finer details:

  • You can send a Charity Gift of any monetary amount to any email address, no matter if they already have a Charityvest account. If they currently are a Charityvest user, the Charity Gift will drop into their fund. If they are not a user, our system will automatically send them an invitation to accept your Charity Gift by creating a fund. 
  • For those receivers who are not Charityvest users, it only requires them to “accept” the funds via email. Once they click "accept" and create their Charityvest account (which takes 90 seconds), your gift will be automatically placed into their giving fund.
  • You can use money in you Charityvest fund. No matter how the funds were previously contributed to your fund in Charityvest—whether by cash, stock, or DAF transfer—they can be utilized to give to others.
  • All the money you share is tax-deductible to you when you first put it in Charityvest (as we're a 501c3 public charity and received the funds). Therefore, it has no tax implications for the receiver, regardless of the amount. When you create a fund for someone, you’re simply moving money already donated within the Charityvest platform.
  • If the receiver takes no action within 14 days, the funds will bounce back to you; there’s no risk of fund abandonment.
  • There are no fees for this service, and the receiver will not be assessed any fees on their charitable activity.


Many have already invested in extending the influence of their giving

  • Phil transferred money from another DAF into Charityvest and set up substantial Charityvest Funds for each of his adult kids. He engaged them with a pattern of giving and legacy well before, and separate from, any estate planning conversations.
  • Sal set up Charityvest Funds for her two college-aged kids as a Christmas present and plans to add funds each year as a way to partner with them in generosity. To her, this is a way of celebrating Christmas that isn’t materialistic and provides an opportunity for her to nudge her kids towards giving.
  • Jason decided to set up ongoing Charityvest Funds for each of his employees and input a fixed percentage of profits into employee funds as long as these employees are at the company. He plans to do this periodically to inspire a vision of purpose and connection in their culture.


Steps to set up a charitable giving fund for someone

  1. Set up and contribute money to your Charityvest fund if you have not already done so. You can do this via cash, stock, transfer from another DAF, or an offline transaction (check/wire transfer) if it’s a substantial amount. 
  2. Send a Charity Gift. The feature can be found on the Charityvest dashboard. You simply enter the email address of the intended receiver, a personal note, and the amount you want to “seed” in their fund.
  3. We recommend sending a separate personal note or physical gift alongside the Charity Gift to provide additional personal context. It also helps to foster the aforementioned connection and spirit of generosity.
  4. Check that the receiver got the Charity Gift. The receiver has 14 days to accept the gift. You can always check on the status of the Charity Gift by going to your dashboard and clicking the Charity Gift transaction. It will bring up more details, including whether the receiver has accepted the gift or not. If they do not accept it, the money will come back to your fund. In the case that this occurs, you can always resend the gift!


We’d be happy to help you with this process

Please reach out to us at support@charityvest.org if you’d like personal help setting up funds for your loved ones or colleagues.


Create your Charityvest giving fund—it's free and takes 90 seconds.

Stephen Kump

Stephen is the chief of promoting generosity @ Charityvest. Former Bain consultant, philanthropic advisor, and military officer. Yale MBA.

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