If you support multiple organizations, or if you want to secure a charitable deduction now and designate beneficiaries later, a DAF may work for you. DAFs can be established with a number of entities, including community foundations and financial services companies.
How It Works
- You establish a DAF with your local community foundation or preferred financial services company. There is no cost to establish a DAF.
- You make an initial gift of cash or stock to the DAF* and receive an immediate charitable deduction.
* A minimum initial charitable contribution may be required.
- You make annual recommendations on gifts to be directed from your DAF to CBF or other qualified charities you support. There are no transaction fees, so 100% of your recommended grant goes to your charity of choice.
- You may choose to remain anonymous to the gift recipient, if you wish.
A DAF Could Be Right for You If…
- You want an immediate tax deduction but wish to direct charitable gifts over several years.
- You have extra income or a special taxable event and require a current-year tax deduction.
- You have many charitable interests and want to simplify your giving.
- You have a private foundation that you wish to terminate. You can send those assets to a DAF.
- You want to use a DAF to complement a private foundation, perhaps in order to give anonymously.
Planned Gifts From Your DAF
You may be able to gift funds that remain in your DAF at the end of your life to CBF through a “payable on death” or “transfer on death” beneficiary designation. Ask your DAF administrator for more information.
For more information about Donor Advised Funds or planned giving with CBF, contact Lauren Winther-Hansen at 443-482-2102 or email@example.com.
The material presented on this website is not offered as legal or tax advice. Please consult your tax advisor, financial planner, or attorney about the legal and tax benefits of any gift to CBF.