Donor-Advised Funds (“DAFs”) have become one of the most popular charitable giving vehicles in the United States over recent years due to the simple, powerful, and highly personal approach to giving they make possible.
DAFs are basically accounts set up at a financial institution or charity that allows donors to make a grant and receive an immediate tax benefit in the form of an income tax deduction. Once the fund is set up with you as the advisor, the contribution is placed into an account where it can be invested and grow tax free. At any time thereafter you can select the legally recognized charities to make grants and contributions to
Several other benefits of a DAF include:
If you are interested in creating a Donor Advised Fund or have other questions about maximizing your charitable giving, please feel free to contact our office.