Donor advised funds are the fastest growing giving vehicle in the nation. Why? Besides being one of the smartest ways to manage your charitable giving, donor advised funds, or DAFs, are easy, flexible and an alternative to a private foundation.
Here are seven other reasons a DAF might be right for you:
Easy to Establish and Use
The start-up time and cost are minimal for DAFs. Once established, donors have online access to contribute to their fund AND recommend grants from their fund – all with just the click of a button. The Oklahoma City Community Foundation even handles all the administrative aspects.
Give Cash and Noncash Assets
Donors can use a variety of assets to establish and contribute to their DAF, including cash, stock and real estate.
Invest and Grow Money Over Time
Your minimum gift of $20,000 to establish a DAF at the Community Foundation is invested, and the Community Foundation provides investment managers to help grow the fund.
Tax Benefits
You’ll receive a charitable tax deduction for the fair market value of your gift in the same year you make your donation. Plus, DAFs aren’t subject to excise taxes unlike private foundations.
You Don’t Have to Select a Charity Right Away
Sure, you’ll receive the charitable tax deduction immediately for your gift, but you aren’t forced to select a charity at the time your gift is made.
Simplify Your Record Keeping
When you do decide which charity(s) to support, your DAF will keep track of each contribution throughout the year and provide you only one tax document when it comes time to file your taxes.
It Can be a Family Affair
Engage your children and grandchildren in philanthropy by naming them as advisors of your fund, allowing your family the ability to give together while teaching them the importance of giving back.
Establishing a DAF at the Oklahoma City Community Foundation not only simplifies your giving, it amplifies it. As OCCF fund holders, you will have access to our staff’s local expertise and knowledge of legitimate charities in central Oklahoma working to make our community a better place.
Questions? Don’t hesitate to contact our DAF expert, Joe Carter, today at 405/606-2914.