Benevolent Cruisers Foundation Service - Managed Charitable Funds

The Benevolent Cruisers Foundation offers Managed Charitable Funds as a service to groups and organizations. This service allows an organization to have a tax deductibile charitable giving fund which is managed by the Foundation and controlled by the organization. Distributions from the fund for charitable causes may be done at anytime with proper authorization from the organization's representatives.

A Managed Charitable Fund is specifically for the use of one organization or group. Members of the group or other supporters make tax deductible one time or recurring contributions to the Foundation which are earmarked for the specific Managed Charitable Fund. Contributions to the Managed Charitable Fund may be via cash, check, credit or debit card, or one of the many supported money transfer services such as Paypal and Zelle. These contributions are documented along with any expenses for the fund (such as credit card processing or money transfer fees) and the funds, less expenses are then available for distribution to charitable causes as directed by the organization. Organizations also have the option of making their fund information "public" in which case the presence of the fund will be reported on our Causes page so as to promote additional support for the fund.

Service fees for the management of the Managed Charitable Fund, if any, are determined at fund set up and then reviewed quarterly for reduction or elimination based on the amount of direct support the Foundation is receiving. At no time will the fees exceed those established at fund setup. Managed Charitable Fund fees are waived for organizations maintaining a minimum of four active Foundation Members.

The specifics of organization approval for distributions vary from organization to organization and these are established at fund setup. Generally, this includes a minimum of three authorized signers wherein at least two are required to approve any distribution. Distributions may be done for any charitable cause based on IRS guidelines. These distributions may be in the form of direct to vendor payments, direct to charitable cause payments, or in the form of reimbursement as is appropriate to the situation.

The Benevolent Cruisers Foundation maintains all documentation on income, expenses and distributions for the Managed Charitable Fund and provides detailed transaction reports quarterly or at some other standard interval as established with the originating organization. As needed reports may also be requested if needed to assist in the decision making process. In this case, a report fee may apply.

Managed Charitable Funds remain active until such time as they are terminated by the original organization, the orginal organization ceases to exist, or the organization is unable to provide suitable authorized signers to direct the fund. In the case of termination, all funds remaining the Managed Charitable Fund must be disbursed to charitable causes as is directed by the organization. If insufficient signers are available to direct distribution, the distribution will be at the discretion of the Foundation in accordance with it's charter.

If you believe a Managed Charitable Fund might be right for your organization, please reach out to us at or by phone at 513-757-5075. And, please be sure to check out our publicly listed Causes page to see some of the organizations and causes we're supporting and help us help our clients!