Giving Compass’ Take:
• Donor-advised funds (DAFs) have many benefits for individual donors, but most might not be aware of them. Here is a list of six advantages of DAFs.
• How do donor advised funds differ from other charitable giving vehicles?
Most financial advisors, attorneys, and CPAs know the benefits of using a donor-advised fund (DAF). However, DAFs are still often underutilized by the public. While many may have used DAFs for large net worth clients a few decades ago, DAFs are still a useful tool which many people can use to help grow their generosity.
Here is a short list you can use to show clients the benefits of using a DAF to grow their giving with less hassle:
- Anyone can open a DAF online in a matter of minutes, and The Signatry requires no minimum deposit or balance upon starting a fund.
- Monthly costs are very low, allowing even modest donors to reap significant tax benefits.
- Online granting allows clients to seamlessly give to their favorite charities with ease (even from the pew or banquet table).
- Statistics show that giving increases when using a DAF. Since the client has already designated funds to charity by putting money in the DAF, he or she can become more intentional about giving.
- A donor does not have to file Form 990 for the IRS. Furthermore, a donor only has to manage a single charitable receipt during tax season.
- Online tools make it easy to access new charities and trends. Clients can track their giving and set giving goals/milestones.
Read the full article about benefits of DAFs by Evan Lange at The Signatry.
Learning and benchmarking are key steps towards becoming an impact giver. If you are interested in giving with impact on Philanthropy take a look at these selections from Giving Compass.
Looking for a way to get involved?
A good way to complement your interest in Philanthropy is to connect with others. Check out these events, galas, conferences or volunteering opportunities related to Philanthropy.
Are you ready to give?
If you are looking for opportunities to take action and give money to Philanthropy, here are some Giving Funds, Charitable Organizations and Projects aggregated by Giving Compass where you can take immediate action.