SOURCE: American Endowment Foundation

American Endowment Foundation

May 04, 2010 10:10 ET

American Endowment Foundation Selected by Commonwealth Financial Network to Provide Access to Donor Advised Funds

HUDSON, OH--(Marketwire - May 4, 2010) -  American Endowment Foundation (AEF), an IRS recognized public charity and leading independent sponsor of Donor Advised Funds (www.aefonline.org), has been selected to provide financial advisors affiliated with Commonwealth Financial Network® with access to Donor Advised Funds (DAF), a charitable giving vehicle providing an alternative to direct giving or creating a private foundation. Through the AEF program, Commonwealth's advisors have the ability to be recommended as managers of their clients' DAF assets.

"Through this new relationship, Commonwealth advisors will have a flexible tool to support their clients' philanthropic financial needs, and still handle the investments," said Phil Tobin, Chairman of American Endowment Foundation. "We look forward to providing Commonwealth's advisors with flexible and efficient options to help manage their clients' charitable activities. With a $10,000 initial minimum contribution, a Donor Advised Fund can be a cost-effective way for people to develop a charitable legacy and enjoy immediate tax benefits."

About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, and a registered investment adviser, is a leading, privately owned independent broker/dealer, with offices in Waltham, Massachusetts, and San Diego, California. The firm supports more than 1,200 independent registered representatives nationwide and makes available a comprehensive array of financial products and services. For more information, please visit www.commonwealth.com.

About AEF
Founded as an IRS recognized public charity in 1993, AEF (www.aefonline.org) has received over $300 million in contributions from over 900 donors. On the recommendations of its donors, AEF has distributed over $100 million in grants to date. Charity Navigator, the leading evaluator of charities in the country, lists AEF as the second highest ranking charity in the country among those charities awarded their 4-star rating for eight or more years.

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