American Friends Funds

A cost-effective solution to raise funds in the U.S.

An American Friends Fund provides foreign nonprofits with a cost-effective solution to receive tax-deductible gifts from supporters in the United States. With a Friends Fund, organizations avoid the trouble and expense of setting up their own U.S.-based charity. Myriad USA handles donor support and back-office administration, including tax receipts.

If you would like to open an American Friends Fund, reach out to our team at at (212) 713-7660 or info@myriadusa.org.

How Does It Work?

Opening your fund

Opening an American Friends Fund at Myriad USA is simple and straightforward. The first step to open a fund is to complete our online application form, providing us with information about your organization, its mission, programs and funding sources. Based on this information, we will determine if your organization is the equivalent of a charity, within the meaning of Section 501(c)(3) of the U.S. Internal Revenue Code, and if its activities are consistent with our charitable purposes. Once your application has been approved, we will sign an agreement establishing your American Friends Fund.

Solicit contributions

Once your American Friends Fund is set up, you can inform your donors based in the United States that they can support your activities through a contribution to your American Friends Fund. We can accept contributions in cash (by check, money order, or wire transfer) or in appreciated property, such as stocks, mutual funds, cryptocurrency or real estate. We can also accept bequests. Myriad USA will provide you with a dedicated, customizable webpage to receive online donations by credit card. Because Myriad USA is a 501(c)(3) public charity, donors may claim the maximum tax benefits allowed by U.S. tax law for their contributions. We will send each donor an acknowledgement of their donation.

Requesting a grant distribution

You can request a grant distribution from your American Friends Fund at any time through our grant portal. There is a $5,000 minimum for grant distributions from American Friends Funds. Your grant request will be reviewed by our team to make sure that it is consistent with U.S. tax laws and with our charitable purposes. Once approved, we will proceed with payment through wire transfer. It usually takes between two and four weeks between your grant request and receipt of the wire transfer into your bank account.

Fee structure

There is a one-time set-up fee of $1,500 to open an American Friends Fund.

Myriad USA charges a management fee on the cumulative total of contributions received in a fund within a calendar year, as follows:
5% of the first $100,000 of total contributions received
3% of the next $400,000;
1% of the next $500,000; and
0.5% of total contributions received in excess of $1,000,000

Myriad USA does not charge an annual maintenance fee, nor is there a minimum balance requirement.

Our Current Partners

See the list of our current nonprofit partners in our Directory of Funds.

Two Other Options

American Friends - Charitable Project Fund

A Charitable Project Fund at Myriad USA is a tool for foreign organizations -such as social and recreational clubs, chambers of commerce, social enterprises, or public authorities- that are not organized and operated exclusively for charitable, cultural, educational, scientific, or literary purposes (as described in the U.S. Internal Revenue Code), but wish to raise funds for specific initiatives that fit those criteria. Our management fee for a Charitable Project Fund is identical to that for a standard American Friends Fund (see above).

American Friends - Invested Assets Subfund

An American Friends Fund with Invested Assets is a solution for foreign nonprofits who expect to receive sizeable contributions intended to support their activities over a longer period of time, but do not have investment expertise or prefer not to receive larger grant amounts into their bank account at once. A minimum amount of $250,000 is required to open such a subfund. Assets are invested for an extended duration, along the lines of our Investment Policy Statement and under the guidance of our Investment Committee, allowing them to earn income and grow tax-free over time. To help cover our operational expenses, we charge a management fee of 70 basis points (0.7% of invested assets per year). Our management fee is all inclusive – no fees are charged on contributions received into the Subfund, nor on grants distributed from the Subfund.

Any questions?

You will find answers to many questions on our FAQ page. Or you can reach us at info@myriadusa.org or (212) 713-7660.