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For Money Managers

For Money Managers

Lutheran Legacy Foundation allows the use of outside money managers.

If your client is considering the use of a donor-advised fund inside a community foundation, you are still able to manage that portion of the portfolio. If they choose Lutheran Legacy Foundation as their community foundation, they may also choose to use you as an outside money manager instead of those provided by the foundation.

Your clients must first fill out a request for an outside manager. They will then be asked to complete an outside manager agreement. Your fee may remain the same, but an annual 75 basis point fee will be paid to Lutheran Legacy Foundation (see our fee schedule). Even with the added fee from the community foundation, it is still more cost effective than setting up a private foundation (click here).

For a full understanding of the tax advantages, you should advise your clients to consult a CPA or an estate attorney. You should also review Lutheran Legacy Foundation’s Investment Policy.

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