Delays in Vanguard Charitable?

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PaulF
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Location: Wisconsin

Delays in Vanguard Charitable?

Post by PaulF » Thu Feb 13, 2020 4:51 pm

Has anyone encountered VERY slow disbursement from VG Charitable?

Generally, they have been very quick to send out checks, maybe 2 or 3 three days after my request. Last year, on 11/2/2019, I sent a request, and the check was not sent out until 1/30/2020! (It didn't clear until 2/10, but I don't suppose VGC can be blamed for that.) Thanks, VGC, now I look like a deadbeat for my Mother's memorial fund! :annoyed (Not really a problem, JK.)

Anyone else experience this?

Gill
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Re: Delays in Vanguard Charitable?

Post by Gill » Thu Feb 13, 2020 5:17 pm

Was the check to an established charity or did VC have to do considerable research?
Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal

Topic Author
PaulF
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Re: Delays in Vanguard Charitable?

Post by PaulF » Thu Feb 13, 2020 6:23 pm

Gill wrote:
Thu Feb 13, 2020 5:17 pm
Was the check to an established charity or did VC have to do considerable research?
Gill
Good question. No, it was a large established charity with an EIN number provided.

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Artsdoctor
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Re: Delays in Vanguard Charitable?

Post by Artsdoctor » Thu Feb 13, 2020 6:48 pm

I have never had a delay like this. Even with all of the stipulations and possible research needed for small organizations, this is too long. I would call them ask them.

Topic Author
PaulF
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Location: Wisconsin

Re: Delays in Vanguard Charitable?

Post by PaulF » Thu Feb 13, 2020 9:03 pm

I was in a hurry on my last answer. I said the EIN was provided; in fact, the organization was listed among their charities. (Okay, it was the Roman Catholic Archdiocese of Philadelphia, fer crying out loud! Not a small operation.)

Yeah, I agree, if I want to get to the bottom of it, I must call them, not post on BH. But I was just curious to know if this was a widespread problem or an isolated incident. I've been thinking about transferring to Fido for the lower minimum grant, and wanted to know if this was a widespread reason to do so.

Thanks, all.

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Rob5TCP
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Re: Delays in Vanguard Charitable?

Post by Rob5TCP » Thu Feb 13, 2020 9:26 pm

Gill wrote:
Thu Feb 13, 2020 5:17 pm
Was the check to an established charity or did VC have to do considerable research?
Gill
Vanguard does not check the charity you select - that is up to you.
I selected the Sierra Club - they are not a 5013c
but their foundation is. My check came back to me from
the Sierra club and I cancelled and had a new check issued
to the foundation.

So you must do you homework first.

stan1
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Re: Delays in Vanguard Charitable?

Post by stan1 » Thu Feb 13, 2020 9:27 pm

If you directed the contribution to a named memorial fund they may have had to verify with the charity that you would not be receiving personal benefit. Vanguard Charitable may have had to contact the charity and the charity may have been slow to respond.

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Cheez-It Guy
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Re: Delays in Vanguard Charitable?

Post by Cheez-It Guy » Fri Feb 14, 2020 12:23 pm

I have an approved grant that I submitted in December and scheduled for today. This was the first time I attempted to schedule one in advance rather than disbursing immediately / ASAP. It has had "approved" status for over a month. I wasn't sure whether the date I selected was the date the charity should receive the check, or whether it was the day Vanguard Charitable would issue / mail. I was hoping for the former, but since it still doesn't show as issued, apparently not. I will see what the status says tomorrow. Hopefully at least it issues today, in which case I will know to schedule future grants a few days in advance of when I want the check received. This really isn't time-sensitive or critical, but I still want to learn how it works and adapt accordingly.

Anyone have any experience to share with scheduling of Vanguard Charitable grants for future dates and how those grants were actually executed?

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Artsdoctor
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Re: Delays in Vanguard Charitable?

Post by Artsdoctor » Fri Feb 14, 2020 4:22 pm

Cheez-It Guy wrote:
Fri Feb 14, 2020 12:23 pm
I have an approved grant that I submitted in December and scheduled for today. This was the first time I attempted to schedule one in advance rather than disbursing immediately / ASAP. It has had "approved" status for over a month. I wasn't sure whether the date I selected was the date the charity should receive the check, or whether it was the day Vanguard Charitable would issue / mail. I was hoping for the former, but since it still doesn't show as issued, apparently not. I will see what the status says tomorrow. Hopefully at least it issues today, in which case I will know to schedule future grants a few days in advance of when I want the check received. This really isn't time-sensitive or critical, but I still want to learn how it works and adapt accordingly.

Anyone have any experience to share with scheduling of Vanguard Charitable grants for future dates and how those grants were actually executed?
I have had both recurring and future grants through Vanguard Charitable without any problems. I don't know the sequence of events for future grants if they feel verification is warranted. You'd like to think that they would verify well before the grant date so if there are any questions, they can answer them in plenty of time.

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Cheez-It Guy
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Re: Delays in Vanguard Charitable?

Post by Cheez-It Guy » Fri Feb 14, 2020 5:59 pm

I assume that is already done, as for a few days or weeks it said "Research Proceeding" or something like that, eventually followed by "Approved".

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