Donor Advised Funds
A donor-advised fund (DAF) is an investment account that allows you to give back to a cause that’s close to your heart. It is composed of donations made by individuals and administered by a third party. The third party is called the sponsoring organization.
How Exactly Does a DAF Work?
After making a gift to a donor-advised fund, you will receive a tax deduction for the year the gift is made. Once your contribution is made, the sponsoring organization has legal control over the funds. You, as the contributing donor, can make grant recommendations to the charity of your choice.
What Are the Benefits of a DAF?
Through a DAF, you can dedicate your charitable dollars to work in easy, cost-effective ways. You can benefit from tax relief while still supporting Friends LA immediately or over time. Additional benefits include:
- Simple to establish
- Flexible funding options
- Easily Accessible
- Tax advantage
- Typically requires no minimum distribution
- Anonymous granting
- Investment options
How You Can Support Friends LA with a Donor-Advised Fund
DAF Direct facilitates grant recommendations from donors of Fidelity Charitable®, Schwab Charitable®, and the BNY Mellon Charitable Gift Fund®. To do so:
1. Request a grant distribution through your DAF sponsor.
2. Use our EIN # 82-3166229
3. Indicate whether your gift is unrestricted or designated to a specific cause (e.g. general operations, annual gift, Fostering Resiliency Project). You can also designate Friends LA as a beneficiary for your donor advised fund.