Why Annual Fund Reviews Matter
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Many individuals and families spend a great deal of time setting up a charitable plan they feel good about. For example, they establish a donor advised fund or other type of fund at Central Florida Foundation, update IRA beneficiary designations so that the fund receives the proceeds, and leave general instructions about the types of causes they want to support. Then life moves on, and the plan sits quietly in place—often for years—while the individual or family assumes everything will work exactly as intended.
The challenge is that charitable plans can outlive the paperwork. Over time, family structures change, attorneys and financial advisors retire, organizations merge or shift direction, and donors’ own priorities evolve. Even when your charitable intentions remain strong, the documents that express those intentions can become outdated without anyone noticing. This can create confusion later, especially for family members or advisors who are trying to carry out your wishes during a stressful time.
A simple way to avoid this is to treat charitable planning the way you treat other important parts of your financial life: review it periodically. That does not mean you need to overhaul your plan every year. It simply means taking a moment to confirm that what is written down still reflects what you want.
The good news: Central Florida Foundation makes this easy with your annual fund review! Each year, our team will reach out to you to set up an annual fund review in the month you established your fund. These meetings can take place via video call or in our office.
What happens during an annual fund review?
In your annual fund review, our team will go over key information with you, such as:
-Successor advisor designations
We will confirm that successor advisor designations are current and that the people you named still understand and are willing to carry out your wishes
If you’ve chosen to not have successor advisors, we will review your intentions for your fund after life, such as discussing which causes or organizations you’d like your fund to continue supporting
-Review and plan
We’ll review your last year of giving and explore innovative and impactful funding opportunities to support through your fund with the help of our philanthropic experts, based on your areas of interest and values
-Confirm language
We can help confirm that your attorney has included the correct fund name and language in your will or trust.
If you have named your fund as a beneficiary of a retirement account or life insurance policy, we can help confirm that the fund is correctly named and that your tax and financial advisors have copies for their records.
We can also develop a brief statement of purpose to maintain in our permanent file that explains why you care about certain causes and what you hope their giving will accomplish over time.
-Discuss ways to get more involved
Our team can present ways to get more involved with charitable giving during your lifetime, such as by including children and grandchildren in decision-making.
We’re here to help!
Please remember that it is our pleasure to meet with you for these check-ins! Central Florida Foundation is your home for charitable giving, and we are here for you. Even a brief conversation once a year can give you peace of mind and strengthen the long-term impact of your giving.
If you have questions about your annual fund review, please contact Neil Rios Laverde, the Foundation’s Philanthropic Relationship Manager.
nrios@cffound.org | 407-872-3050
