Has your financial advisor mentioned Donor Advised Funds (DAFs) to you? A donor advised fund is a giving vehicle that provides an immediate tax benefit to you and allows you to grant funds to charities of your choice.
DAFs are quickly growing in popularity in the world of philanthropy. A donor advised fund allows you to make a charitable contribution, receive an immediate tax benefit, and then you can recommend distributions from the fund over time.
Simply put, you contribute to your donor advised fund as often as you like. When you are ready to make a gift from your DAF, you speak with the fund holder (i.e. Fidelity, Schwab, Morgan Stanley, a community foundation), and request donation amounts be made to your favorite charities.
For example: Joyce Jones sets up a DAF of $5,000 at her local community foundation and receives an immediate tax benefit. Some time later, Joyce decides she wants to donate to the Wisconsin Council of the Blind & Visually Impaired. She notifies the foundation of her desire to make a gift to WCBVI and the foundation sends the check. Joyce can make a gift of any size and can add to her DAF whenever it is convenient for her.
The Council welcomes gifts from donor advised funds. Your fund holder will need this information:
Wisconsin Council of the Blind & Visually Impaired
754 Williamson Street, Madison, WI 53703
Tax ID# 39-0977746