Donor Advised Fund (DAF)
A donor advised fund is a way to simplify your giving by making a gift to a fund with OMSI that can distribute gifts to the charities of your choice during your lifetime and help your children carry on your legacy of giving after you are gone.
Are you looking for a way to benefit OMSI both now and in the future? Would you like to simplify your annual and lifetime charitable giving? A donor advised fund (or DAF) might be a great solution for you.
What is a donor advised fund (DAF)?
A donor advised fund allows you to make tax-deductible gifts to the charities of your choice, such as OMSI, during your lifetime and helps ensure that your children can carry on your legacy of giving after you are gone.
How a donor advised fund works
- You make an initial, irrevocable, and tax-deductible gift of cash or stock to fund a DAF with a community foundation or financial institution.
- The assets in your DAF grow tax-free.
- You make annual recommendations on gifts to be made from your DAF.
- When you pass away, your children may recommend charitable gifts from your DAF.
More on donor advised funds
A donor advised fund has several advantages when compared to a private foundation. The start-up time and cost are minimal for DAFs, and gifts to DAFs are generally deductible at fair market value. A DAF is also not subject to the distribution requirements and certain excise taxes faced by private foundations.
Donor advised fund video
Contact us
If you have any questions about donor advised funds, please contact us. We would be happy to assist you and answer any questions you might have.
