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WaterStone

Full company profile

uuid000gi1x

Namestring
WaterStone
Legal namestring
Christian Community Foundation, Inc. dba WaterStone
Company typeenum
Private
Founded yearint
2007
Descriptiontext

WaterStone is a financial company providing financial Advising, wealth management and christian giving solutions.

Short descriptiontext

WaterStone is a financial company providing financial Advising, wealth management and christian giving solutions.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersLondon, United Kingdom
HQ citystring
London
HQ countrystring
United Kingdom
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
donor-advised funds, charitable giving solutions, charitable remainder trusts, Christian philanthropy services, complex asset donations
Industry3 codes
1Donor-Advised Fund (DAF) Sponsors
CodeBPAGAKAFPrimaryYes
2Philanthropic & Charitable Trust Services
CodeFSAAANAIPrimaryNo
3Charitable Giving & Philanthropic Trust Advisory
CodeFSAEAKAHPrimaryNo
NAICS code2 codes
  • Grantmaking Foundations813211
  • Grantmaking and Giving Services8132
SIC code1 code
  • Finance Services6199
Product category
Donor-Advised Funds and Charitable Giving Services
GTM motion2 records

Each record includes

Type, Description, Source

Revenue model4 records
1Non-Traditional Asset Contribution Fees
TypeTransaction Fee
Description

One-time incoming fee of 3% on non-traditional assets (real estate, privately held business interests, oil & gas) based on appraised value, collected at liquidation. For cryptocurrency, a reduced 1% incoming fee is charged.

waterstone.org
2Annual Administration Fees (Giving Fund / CAF)
TypeSubscription Recurring
Description

Fees assessed quarterly on daily asset balances, tiered by asset amount: 1.00% on first $1M, 0.80% on next $2M, 0.50% above $5M, with a $395 minimum. This is the primary recurring revenue stream based on assets under management.

waterstone.org
3Charitable Trust Administration Fees
TypeSubscription Recurring
Description

Fees for trust administration services, tiered by trust size: 0.76% on $250K–$1M, 0.52% on $1M–$5M, 0.16% above $5M for standard CRTs; and 0.95%–0.20%–0.075% tiered for Net Income CRTs. Minimum annual fee of $1,200–$1,500 depending on trust type.

waterstone.org
4Special Service Fees
TypeTransaction Fee
Description

Additional fees for special handling ($25 cost plus), credit card contributions (3.00%), e-check contributions (0.75%), grants to non-qualified organizations ($100), and outside investment advisor management (for funds over $200K minimum balance).

waterstone.org
Marketing channels7 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Pricing details5 tiers
1Giving Fund / Charity Advised Fund: 1.00% on first $1M, 0.80% on next $2M, 0.50% above $5M; Minimum $395
ModelSubscriptionBilling cadenceQuarterly
Notes

Tiered annual administration fee assessed quarterly on daily asset balances. First $1M: 1.00%, Next $2M: 0.80%, Above $5M: 0.50%. Minimum $395. Non-traditional asset contribution: 3% one-time incoming fee (based on appraised value, collected at liquidation).

waterstone.org
2Charitable Remainder Trust (Standard): 0.76% on $250K–$1M, 0.52% on $1M–$5M, 0.16% above $5M; Minimum $1,200
ModelSubscriptionBilling cadenceAnnual
Notes

Tiered trust administration fee. Minimum $1,200 annually. Non-traditional asset contribution: 3% one-time incoming fee. Suggested minimum asset requirement of $250,000.

waterstone.org
3Net Income Charitable Remainder Trust: 0.95% on $250K–$1M, 0.65% on $1M–$5M, 0.075% above $5M; Minimum $1,500
ModelSubscriptionBilling cadenceAnnual
Notes

Higher fee tier for Net Income CRT variant. Minimum $1,500 annually. Non-traditional asset contribution: 3% one-time incoming fee. $100,000 minimum contribution with new fund requirement of $1,000,000.

waterstone.org
4Pooled Trust Placement: 1.00% on first $100K, 0.75% on next $4M, 0.50% on next $5M, 0.25% above $10M; Minimum $100K
ModelSubscriptionBilling cadenceAnnual
Notes

Pooled Charitable Trust fee structure. Minimum $100,000 contribution; new fund requirement of $1,000,000. 3% one-time incoming fee for non-traditional assets.

waterstone.org
5Cryptocurrency gifts: 1% incoming fee
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

WaterStone accepts all major cryptocurrencies. 1% incoming fee based on gift value. Qualified appraisal required for tax deduction. Appraisals available through partner Charitable Solutions: $150 for gifts under $500,000; $800 for gifts over $500,000.

waterstone.org
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Core offering1 text field

WaterStone operates as a faith-based charitable giving platform that enables high-net-worth Christian donors to make tax-efficient contributions of cash and complex non-traditional assets (real estate, business interests, appreciated securities, commodities, and cryptocurrency) via donor-advised funds (Giving Fund), charitable remainder trusts, and pooled trusts. The organization accepts the assets, manages compliance, due diligence, and grant processing, and distributes grants to charities aligned with its Statement of Faith, providing donors with an immediate charitable deduction and tax-free asset growth.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 5 values shown
  • Donor-advised fund assets industry-wide have nearly doubled to over $326 billion, with WaterStone operating in this expanding market
+4 more records
Product overview1 text field

WaterStone is a Christian nonprofit organization offering a comprehensive charitable giving platform centered around Donor Advised Funds (Giving Funds) and Charitable Trusts. The platform encompasses three main product families: (1) Giving Vehicles — Giving Fund (DAF), Charity Advised Fund, Charitable Remainder Trust (CRT), and Charitable Pooled Trust (CPT); (2) Charitable Asset Acceptance — Real Estate, Business Interests, Appreciated Securities, Cash & Marketable Securities, and Cryptocurrency; and (3) Administrative Services — Online Fund View portal for account management and grant recommendations. The ecosystem is designed to help donors transform complex assets into tax-efficient charitable contributions that grow tax-free and are distributed to qualified charities over time.

Scale indicator9 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
1Charitable Solutions
Strategic tierMinorTypeImplementation/ SI/ Consulting Partner
Description

Charitable Solutions provides qualified appraisal services for cryptocurrency donations to WaterStone, offering reduced rates: $150 for gifts under $500,000 and $800 for gifts over $500,000. This partnership simplifies the appraisal requirement for crypto donors seeking tax deductions.

waterstone.org
2Eide Bailly LLP
Strategic tierCoreTypeImplementation/ SI/ Consulting Partner
Description

Eide Bailly LLP conducts WaterStone's annual audit in accordance with Generally Accepted Auditing Standards, providing an unqualified opinion on consolidated financial statements for Christian Community Foundation, Inc. dba WaterStone and its affiliates.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
1National Christian Foundation
TypeDirect peer
Description

The largest Christian donor-advised fund sponsor in the U.S. (~$3B+ AUA), NCF operates with a nearly identical faith-based model, complex-asset acceptance, and advisor partnership strategy, making it WaterStone's closest direct competitor.

2The Signatry
TypeDirect peer
Description

A faith-based national DAF sponsor headquartered in Kansas City that similarly targets Christian HNW donors with giving funds, complex-asset acceptance, and financial-advisor partnerships.

3Fidelity Charitable
TypeBroad incumbent
Description

The largest DAF sponsor in the U.S. (~$80B+ AUA), offering low-fee giving accounts to the mass-affluent and HNW market with the Fidelity brand's distribution scale — WaterStone's primary competitive threat from the generalist side.

4Schwab Charitable
TypeBroad incumbent
Description

One of the top three DAF sponsors nationally, integrated with Schwab's advisor platform and serving a broadly similar HNW donor base — competing with WaterStone on advisor-channel mindshare and fee economics.

5National Philanthropic Trust
TypeDirect peer
Description

An independent national DAF sponsor offering giving funds and charitable trust services to HNW donors and nonprofits, with comparable scale, fee structure, and complex-asset capabilities.

6Renaissance Charitable Foundation
TypeDirect peer
Description

A national DAF sponsor with a focus on integrated financial planning, offering giving accounts, CRTs, and complex-asset acceptance — competing directly with WaterStone for HNW donors and advisor relationships.

7American Endowment Foundation
TypeDirect peer
Description

An independent DAF sponsor accepting complex assets (real estate, privately held business interests, crypto) and serving HNW donors — overlapping WaterStone's niche specialty on the complex-asset side.

8Vanguard Charitable
TypeBroad incumbent
Description

A leading DAF sponsor with the Vanguard brand's low-cost reputation, serving HNW and mass-affluent donors and competing with WaterStone for financial-advisor referrals.

9Thrivent Charitable Impact
TypeDirect peer
Description

The charitable giving arm of Thrivent, a faith-based financial services company; offers DAFs and charitable trusts targeted at Christian HNW donors — directly overlapping WaterStone's faith-aligned donor base.

10Daffy Charitable
TypeEmerging player
Description

A tech-forward DAF platform targeting younger and mass-affluent donors with low minimums and a digital-first experience; partial overlap with WaterStone on giving-fund product but with a distinct secular, mass-market positioning.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers8 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature2 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles10 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance2 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

WaterStone

Donor-Advised Funds and Charitable Giving Serviceswaterstone.org

WaterStone is a financial company providing financial Advising, wealth management and christian giving solutions.

What WaterStone does

WaterStone is a financial company providing financial Advising, wealth management and christian giving solutions.

WaterStone firmographics

Firmographics
Name
WaterStone
Legal name
Christian Community Foundation, Inc. dba WaterStone
Website
http://waterstone.org
Company type
Private
Founded year
2007
Operating status
Operating
Headcount range
11–50 employees
Short description
WaterStone is a financial company providing financial Advising, wealth management and christian giving solutions.
Ownership category
akta.pro rank

WaterStone industry classification

Industry
Product category
Donor-Advised Funds and Charitable Giving Services
NAICS
Grantmaking Foundations (813211), Grantmaking and Giving Services (8132)
SIC
Finance Services (6199)
akta.pro primary industry
Donor-Advised Fund (DAF) Sponsors (BPAGAKAF)
akta.pro secondary industries
Philanthropic & Charitable Trust Services (FSAAANAI), Charitable Giving & Philanthropic Trust Advisory (FSAEAKAH)

Keywords

  • Donor-advised funds
  • Charitable giving solutions
  • Charitable remainder trusts
  • Christian philanthropy services
  • Complex asset donations

Where WaterStone is headquartered

Location

Headquarters

HQ city
London
HQ country
United Kingdom
HQ region
Europe

Offices1 record

Markets served

WaterStone business model

Business model
GTM type
B2B and B2C
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

  1. Non-Traditional Asset Contribution Fees: One-time incoming fee of 3% on non-traditional assets (real estate, privately held business interests, oil & gas) based on appraised value, collected at liquidation. For cryptocurrency, a reduced 1% incoming fee is charged.
  2. Annual Administration Fees (Giving Fund / CAF): Fees assessed quarterly on daily asset balances, tiered by asset amount: 1.00% on first $1M, 0.80% on next $2M, 0.50% above $5M, with a $395 minimum. This is the primary recurring revenue stream based on assets under management.
  3. Charitable Trust Administration Fees: Fees for trust administration services, tiered by trust size: 0.76% on $250K–$1M, 0.52% on $1M–$5M, 0.16% above $5M for standard CRTs; and 0.95%–0.20%–0.075% tiered for Net Income CRTs. Minimum annual fee of $1,200–$1,500 depending on trust type.
  4. Special Service Fees: Additional fees for special handling ($25 cost plus), credit card contributions (3.00%), e-check contributions (0.75%), grants to non-qualified organizations ($100), and outside investment advisor management (for funds over $200K minimum balance).

Pricing tiers

ModelBillingPrice
SubscriptionQuarterlyGiving Fund / Charity Advised Fund: 1.00% on first $1M, 0.80% on next $2M, 0.50% above $5M; Minimum $395
SubscriptionAnnualCharitable Remainder Trust (Standard): 0.76% on $250K–$1M, 0.52% on $1M–$5M, 0.16% above $5M; Minimum $1,200
SubscriptionAnnualNet Income Charitable Remainder Trust: 0.95% on $250K–$1M, 0.65% on $1M–$5M, 0.075% above $5M; Minimum $1,500
SubscriptionAnnualPooled Trust Placement: 1.00% on first $100K, 0.75% on next $4M, 0.50% on next $5M, 0.25% above $10M; Minimum $100K
Transaction based/ take ratePay-as-you-goCryptocurrency gifts: 1% incoming fee

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

WaterStone product offering

Product offering

Core offering

WaterStone operates as a faith-based charitable giving platform that enables high-net-worth Christian donors to make tax-efficient contributions of cash and complex non-traditional assets (real estate, business interests, appreciated securities, commodities, and cryptocurrency) via donor-advised funds (Giving Fund), charitable remainder trusts, and pooled trusts. The organization accepts the assets, manages compliance, due diligence, and grant processing, and distributes grants to charities aligned with its Statement of Faith, providing donors with an immediate charitable deduction and tax-free asset growth.

Product overview

WaterStone is a Christian nonprofit organization offering a comprehensive charitable giving platform centered around Donor Advised Funds (Giving Funds) and Charitable Trusts. The platform encompasses three main product families: (1) Giving Vehicles — Giving Fund (DAF), Charity Advised Fund, Charitable Remainder Trust (CRT), and Charitable Pooled Trust (CPT); (2) Charitable Asset Acceptance — Real Estate, Business Interests, Appreciated Securities, Cash & Marketable Securities, and Cryptocurrency; and (3) Administrative Services — Online Fund View portal for account management and grant recommendations. The ecosystem is designed to help donors transform complex assets into tax-efficient charitable contributions that grow tax-free and are distributed to qualified charities over time.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

  • Donor-advised fund assets industry-wide have nearly doubled to over $326 billion, with WaterStone operating in this expanding market
  • +4 more outcomes

Companies that use WaterStone

Customer profile

Named customers8 records

Segments4 records

Ideal customer profiles3 records

WaterStone technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

WaterStone partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered minor and core.

  • Charitable SolutionsminorImplementation/ SI/ Consulting PartnerCharitable Solutions provides qualified appraisal services for cryptocurrency donations to WaterStone, offering reduced rates: $150 for gifts under $500,000 and $800 for gifts over $500,000. This partnership simplifies the appraisal requirement for crypto donors seeking tax deductions.
  • Eide Bailly LLPcoreImplementation/ SI/ Consulting PartnerEide Bailly LLP conducts WaterStone's annual audit in accordance with Generally Accepted Auditing Standards, providing an unqualified opinion on consolidated financial statements for Christian Community Foundation, Inc. dba WaterStone and its affiliates.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

WaterStone competitors and assessment

Company assessment

Direct peers

  • National Christian Foundation: The largest Christian donor-advised fund sponsor in the U.S. (~$3B+ AUA), NCF operates with a nearly identical faith-based model, complex-asset acceptance, and advisor partnership strategy, making it WaterStone's closest direct competitor.
  • The Signatry: A faith-based national DAF sponsor headquartered in Kansas City that similarly targets Christian HNW donors with giving funds, complex-asset acceptance, and financial-advisor partnerships.
  • National Philanthropic Trust: An independent national DAF sponsor offering giving funds and charitable trust services to HNW donors and nonprofits, with comparable scale, fee structure, and complex-asset capabilities.
  • Renaissance Charitable Foundation: A national DAF sponsor with a focus on integrated financial planning, offering giving accounts, CRTs, and complex-asset acceptance — competing directly with WaterStone for HNW donors and advisor relationships.
  • American Endowment Foundation: An independent DAF sponsor accepting complex assets (real estate, privately held business interests, crypto) and serving HNW donors — overlapping WaterStone's niche specialty on the complex-asset side.
  • Thrivent Charitable Impact: The charitable giving arm of Thrivent, a faith-based financial services company; offers DAFs and charitable trusts targeted at Christian HNW donors — directly overlapping WaterStone's faith-aligned donor base.

Broad incumbents

  • Fidelity Charitable: The largest DAF sponsor in the U.S. (~$80B+ AUA), offering low-fee giving accounts to the mass-affluent and HNW market with the Fidelity brand's distribution scale — WaterStone's primary competitive threat from the generalist side.
  • Schwab Charitable: One of the top three DAF sponsors nationally, integrated with Schwab's advisor platform and serving a broadly similar HNW donor base — competing with WaterStone on advisor-channel mindshare and fee economics.
  • Vanguard Charitable: A leading DAF sponsor with the Vanguard brand's low-cost reputation, serving HNW and mass-affluent donors and competing with WaterStone for financial-advisor referrals.

Emerging players

  • Daffy Charitable: A tech-forward DAF platform targeting younger and mass-affluent donors with low minimums and a digital-first experience; partial overlap with WaterStone on giving-fund product but with a distinct secular, mass-market positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

WaterStone social profiles

Digital presence

WaterStone compliance and trust

Trust signal

Compliance2 records

WaterStone financial estimates

Financial estimate

Revenue estimate

Valuation estimate

WaterStone leadership team

Management profile

Number of profiles

Profiles10 records

WaterStone subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

WaterStone funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

WaterStone M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about WaterStone

What does WaterStone do?

WaterStone operates as a faith-based charitable giving platform that enables high-net-worth Christian donors to make tax-efficient contributions of cash and complex non-traditional assets (real estate, business interests, appreciated securities, commodities, and cryptocurrency) via donor-advised funds (Giving Fund), charitable remainder trusts, and pooled trusts. The organization accepts the assets, manages compliance, due diligence, and grant processing, and distributes grants to charities aligned with its Statement of Faith, providing donors with an immediate charitable deduction and tax-free asset growth.

Is WaterStone a public or private company?

WaterStone is a private company. It is classified as nonprofit foundation owned and is currently operating.

When was WaterStone founded?

WaterStone was founded in 2007. It employs 11 to 50 people.

Where is WaterStone based?

WaterStone is headquartered in London, United Kingdom, in the Europe region.

How does WaterStone make money?

Four revenue lines are on record. Non-Traditional Asset Contribution Fees are the primary driver. The others are annual Administration Fees (Giving Fund / CAF), charitable Trust Administration Fees and special Service Fees.

Who are WaterStone's main competitors?

Direct peers on record are National Christian Foundation, The Signatry, National Philanthropic Trust, Renaissance Charitable Foundation, American Endowment Foundation and Thrivent Charitable Impact. Broad incumbents are Fidelity Charitable, Schwab Charitable and Vanguard Charitable. Daffy Charitable is listed as an emerging player.

Does WaterStone have an API?

No public API is recorded for WaterStone.

What industry is WaterStone in?

WaterStone's product category is Donor-Advised Funds and Charitable Giving Services. Its primary akta.pro industry code is BPAGAKAF, Donor-Advised Fund (DAF) Sponsors, with a secondary code of FSAAANAI, Philanthropic & Charitable Trust Services. Its NAICS code is 813211 and its SIC code is 6199.

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Live signals
The Times of IndiaFather left $21 million in a charitable fund; son sought a $1 million donation but his access was cut off by the foundationPhilip Peterson sued WaterStone after the firm cut off his access to a $21 million charitable fund and denied a $1 million grant. The case examines successor adviser authority over donor-advised funds, with WaterStone arguing it retains ultimate control.Stock TitanSalem Media Completes WaterStone Acquisition at $1/ShareSalem Media has completed its acquisition by The Christian Community Foundation, Inc., operating as WaterStone, for $1.00 per share and is now a private company. The transaction represents approximately a 250% premium over Salem's trading price prior to the announcement. As a private entity, Salem will continue its multimedia operations while partnering with WaterStone for long-term growth.MorningstarSiteVue AI Secures $7.5M in Seed Funding to Bring AI-Powered Vision to the Frontlines of Manufacturing, Food Processing, and ConstructionSiteVue AI raised $7.5 million in seed funding co-led by Penny Jar Capital and Overture. The company's AI-powered cameras claim to boost profit margins by 3% in under three months, with 10-20% floor efficiency gains. It is expanding beyond automotive and food production into retail, construction, and other industries.RadioworldSalem Media Going Private in Acquisition by WaterStoneSalem Media agreed to be acquired by WaterStone in a private transaction, with the deal expected to close in August. WaterStone will pay $1 per share, a 250% premium over recent trading prices, and holds a 49.5% voting interest. The company owns about 62 radio stations and syndicates programming to 2,400 affiliates.YahooOne family’s $21M charity fund dispute shows how tax-advantaged giving can go wrong. What donors should knowPhilip Peterson has filed a federal lawsuit against WaterStone, a nonprofit organization, alleging he was locked out of a $21 million donor-advised fund he was managing as successor advisor to his late father's estate. The fund, which launched in 2005 and distributed $2.3–$2.5 million annually to charitable causes, stopped making donations in 2024 after a dispute over payout amounts, with Peterson claiming he cannot access account details or verify whether any distributions have occurred. The case highlights a fundamental risk of donor-advised funds: once money is contributed, the sponsoring organization—not the donor—retains final control over the assets.Financial-planningDonor-advised fund lawsuit pits successor advisor against sponsorPhilip G. Peterson filed a lawsuit in Colorado federal court against WaterStone, a Christian donor-advised funds organization, accusing it of breach of contract and consumer protection violations after the organization cut off charitable distributions from the $21 million Peterson Family Stewardship Fund following the deaths of his father and stepmother. Peterson alleges WaterStone's CEO verbally abused him and terminated communications after he was designated as successor advisor in 2017, refusing to process grant requests and refusing access to governing documents or asset accounting. The case is drawing attention from financial advisors as donor-advised fund assets have nearly doubled to over $326 billion, with observers noting the dispute centers on $21 million in assets at stake.CNBCLawsuit over $21 million donor-advised fund highlights risks of DAF givingPhilip Peterson filed suit in Colorado federal court in January against WaterStone, the Christian nonprofit administering his family's $21 million donor-advised fund, alleging the organization refused to communicate with him and failed to act on his grant recommendations since early 2024. The case highlights a key risk of DAFs: sponsors legally control the assets and are not obligated to follow donors' grant recommendations, despite DAFs being marketed as flexible charitable giving vehicles. WaterStone contends it has respected the wishes of Peterson's late father who created the fund in 2005, while Peterson argues the nonprofit has delayed or denied his grant recommendations despite them meeting his father's mission statement.