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Simplify with Donor Advised Funds

What is a Donor Advised Fund? 
A donor advised fund is a kind of fund account sponsored by a public charity. The terms of the fund account give the donor the right to recommend charitable grants from the DAF. Most community foundations offer donor advised funds as do the charitable affiliates of many investment firms.  

How does it work? 
You contribute cash, stock, or other assets to the DAF sponsor, to be deposited in your donor advised fund account. You receive an immediate income tax charitable deduction for your contribution to your DAF. The DAF sponsor invests and manages the fund and allows you, as the advisor, to recommend grants to qualified charities in amounts and at times you choose. 

What are the tax advantages? 
A key advantage is the opportunity to separate the timing of your tax-deductible contribution from your decisions about which specific charities you wish to support. This can be especially useful for tax planning. For example, if you have a financial event like the sale of a business that results in a larger than usual tax liability, you could make a substantial charitable contribution to a DAF and use the income tax deduction to reduce your taxes. 

Can I support Wheaton with my DAF? 
Absolutely! Just recommend a grant from your donor advised fund to Wheaton.  

Please contact us if you have any questions.