Are you looking for a simple, flexible tool that allows you to manage and maximize your giving to support the causes that matter most to you? Would you like to have the ability to make a single significant gift to support multiple qualified charities? Are you interested in a way to simplify your annual and lifetime charitable giving?
If you answered “yes” to any of these questions, you may want to consider creating a donor advised fund (or DAF).
Think of a Donor Advised Fund as an investment account. As you make contributions to the fund and enjoy the tax benefits, the money in your account is pooled with money from other donors and invested in the fund to grow and expand your charitable-giving capacity.
Like an investment account, administrative management fees will apply. It’s advisable to shop around until you find a Donor Advised Fund that is a good fit for you. Thoughtful considerations when choosing a DAF might include whether there is a cost to open the fund or a minimum balance required. Also, does where the fund invests the assets align with your values?
The benefits of a Donor Advised Fund include:
Deductibility – You take a tax deduction when you make a contribution to the fund.
Flexibility – There’s no deadline for making distributions from your fund. Gifts or grants must be made to qualified 501(c)(3) nonprofit organizations.
Simplicity – The fund manages the paperwork and you receive one receipt for your charitable gifts.
Versatility – Gifts to your fund may be made in cash, appreciated securities, and a variety of other assets such as personal property, real estate, closely held business interests, jewelry, and more.
Privacy – Give anonymously if you wish.
Family – Engage your family on your charitable journey and share the joy of generosity.
Legacy – Ensure your legacy by leaving instructions for your heirs to continue giving through the fund. Give from your DAF through your estate to simplify your charitable bequests.
Please do not hesitate to contact Stonecroft with questions or to let us know how we can serve you.
For your own complimentary Estate Planning Guide, contact Joan Johnson, Engagement Manager, by phone at 800.525.8627, ext. 8863, or email [email protected].