ADVISOR
An individual authorized to recommend grants from a donor-advised fund account. An advisor is named to a fund account by the account's donor. An advisor can also serve as a successor to the donor.

CASH CONTRIBUTION
A gift consisting of cash, paid by check or electronic transfer, made by a donor to a donor-advised fund account.

CHARITABLE ORGANIZATION
An institution established for the public good or to help those in need. Most charitable organizations are 501(c)(3) organizations whose income is not used for the gain of persons with an interest in the organization. Funds received by a charitable organization must be used only in support of its mission and operation. The Harris myCFO Foundation currently only makes grants to 501(c)(3) organizations. Within that definition, the Foundation makes grants only to certain types of 501(c)(3) public charities-i.e., 509(a) (1), (2), and (3) public charities other than section 509(a)(3)(b)(iii) Type III supporting organizations. 509(a)(1) public charities include churches, schools, hospitals and organizations that receive 1/3rd of their support from the public in the form of gifts. Section 509(a)(2) public charities are those that receive 1/3rd of their support from service fees and gifts. Section 509(a)(3) public charities are supporting organizations-organizations that have a significant relationship with one or more of the public charities mentioned above in Sections 509(a)(1) and (2).

CONTRIBUTION
A gift of cash or securities made to a donor-advised fund account. A contribution is irrevocable and immediately tax-deductible. For example, in order to open an account at the Harris myCFO Foundation, the donor must make an initial contribution of at least $10,000. Subsequent contributions must exceed $5,000.

DONOR
An individual or entity making a contribution to a charitable organization. In the case of a donor-advised fund account at the Harris myCFO Foundation, the donor opens his or her account by making a contribution to the Foundation. An account can have one donor or two, if the contributed assets are jointly held.

DONOR-ADVISED FUND
A charitable investment vehicle administered by a charitable organization taking into account the recommendations of the donor. A donor-advised fund program is administered by the Harris myCFO Foundation, a public charity described in 501(c)(3), 509(a)(1) and 170(b)(1)(A)(vi) of the Code. Donors can establish their donor-advised fund with the Harris myCFO Foundation by making a contribution to the account. Contributions are irrevocable and are controlled by the Harris myCFO Foundation, which invests the contributions in one or more investment pools. Although the donor no longer controls the gift once contributed, he or she can advise the Harris myCFO Foundation regarding both investments and grants.

GRANT
An award of funds to a charitable organization. Harris myCFO Foundation donor-advised funds permit donors to recommend that grants be awarded to charitable or educational organizations selected by the donors. The Foundation then reviews the recommendations and, if approved, awards the grant to the recipient charitable organization.

PRIVATE FOUNDATION
A charitable organization established and supported primarily by private funds. A private operating foundation conducts its own programs, expending funds directly for charitable activities. A private non-operating foundation supports charitable activities by making grants to other charitable organizations. Currently, the Harris myCFO Foundation does not make grants to either operating or non-operating private foundations.

PRIVATE INUREMENT AND PRIVATE BENEFIT
Charitable organizations are mandated to use their funds exclusively for charitable purposes. Most donor-advised funds will not make grants to charitable organizations where the advisor or donor to the charitable account is receiving some benefit from the charitable grant recipient. For example: if a donor or advisor of a donor-advised fund account has individually made a pledge to an organization and then recommends that such pledge be funded from a grant recommended by that donor or advisor to the fund, the granting of such funds to fulfill the pledge would be providing an impermissible benefit to a private individual. Since the charitable organization's mandate is to use the funds only for charitable purposes the grant will not be made to fulfill such pledge.

RECIPIENT
A charitable organization recommended to receive a grant.

SECURITY
An instrument, including stocks, bonds or other investments, that identifies an ownership position, a creditor relationship or rights to ownership. Publicly traded securities can be contributed to a donor-advised fund.

SUCCESSOR
An individual named by the donor to succeed the donor in advising a donor-advised fund account in the event of the donor's resignation, death or legal incapacity. A successor has no authority over the account until the donor's written resignation is received by the Harris myCFO Foundation or until the donor's death or confirmation of legal incapacity, at which time the successor takes on all the responsibilities of the donor, with the ability to recommend grants, and name advisors and successors. A donor may name up to 2 advisors for an account and can declare that the successors will share responsibility for the account, or that the account's assets will be split 50/50 among the successors.