What is a Donor-Advised Fund?

Ever heard of a Donor-Advised Fund (DAF)? It's like a savings account for your charitable giving. Let's break it down.

A DAF is a tax-efficient way for some people to give to their favorite charities. You contribute money or assets to your DAF, and it's like putting them in a charity piggy bank.

You get an immediate tax deduction for your contribution. So, it's a win-win for your wallet and the causes you care about. That doesn't mean that it's right for you, but for some people it is helpful.

If you have a DAF, you can recommend grants from it to support the charities you love whenever you want.

It's also flexible. You can contribute to your DAF when it suits you, and then decide which charities to support later. No pressure.

DAFs make giving simple and efficient, especially when donors are supporting multiple groups. Again, it's not for everyone, but it can benefit some people in the long term.

So, in a nutshell, a Donor-Advised Fund could be a tool for you to make your giving run easier.