A Philanthropic Donor-Advised Fund (DAF) enables you to support the causes that are closest to your heart, without having to track receipts from multiple charities. DAFs are easy to set up and can be built using a wide variety of assets.
How It Works.
A Donor-Advised Fund, or DAF, is a giving vehicle established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants from the Fund over time. You immediately receive the maximum tax deduction that the IRS allows.
The assets in your Fund grow tax-free, generating even greater resources for you to support the causes you care about most. You won’t have to pay tax on the income that’s generated by your Fund. And since your DAF contributions are charitable donations to a 501(c)(3) tax-exempt charity, you’d be entitled to receive the maximum tax deduction allowed by law, for your contributions. Plus, if you use appreciated securities or property to establish or augment your Fund, you can realize even more tax savings.
You may involve other family members as Advisors, showing them the importance of philanthropy while demonstrating the value of providing for the future of our Jewish Community. An additional consideration is that you can preserve your privacy: A Philanthropic Donor-Advised Fund is not required to publicly-disclose the grant-making activities of its individual donors. So grants may be made anonymously, if you wish.
Most gratifying of all, your investment ensures our Jewish Community remains vital and responsive for generations to come.
To get started, simply choose the name you would like to use for your Fund, and open it at a recognized public charity: Funds with a beginning balance of $10,000 or more can be established at The Community Foundation of WNC . We can also help you choose the qualified charities that align best with your own philanthropic goals and personal interests.