Dryden, Bound & Associates has established the Community Foundation’s first Corporate Giving Fund. Also known as a Company Donor Advised Fund, a Corporate Giving Fund provides a charitable vehicle for a company and its employees.
The fund is named by the company and established with an initial contribution. Employees may contribute throughout the year. Designated individuals or a committee identify the charities that will be supported with grants from the fund. The Community Foundation issues grants to the selected charities. The grants can be sent to any 501(c)(3) organization, church, or government in the nation and may be made in the name of the fund or anonymously. The Community Foundation handles all administrative details including the preparation of tax acknowledgements for employees or others who contribute to the fund.
According to Jay Dryden, Senior Partner, “Dryden, Bound & Associates is dedicated to giving back to the community. We actively support local and national charities. It is important that as we talk with clients about how they can include charitable giving in their estate planning, we demonstrate that our company recognizes the importance and the joy of giving.”
James Gilbert, Chairman of the Board of the Community Foundation, added, “The Community Foundation is excited to introduce our first Corporate Giving Fund. This is a low cost alternative for companies wanting to support charitable causes. It can be established quickly. The Foundation handles investments, accounting, and tax returns and the staff is available to verify potential recipients, provide information, and send the grants. We are so happy to start this initiative with the caring folks from Dryden, Bound & Associates.”
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