A Donor-Advised Fund is a type of giving program that allows you to combine the most favorable tax benefits with the flexibility to easily support Holy Apostles Soup Kitchen. An increasingly popular charitable vehicle, donor advised funds are an excellent way to both simplify your charitable giving and facilitate your strategic philanthropic goals.
There are a number of advantages to having a donor-advised fund:
- Simplicity—The DAF sponsor handles all record keeping, disbursements, and tax receipts.
- Flexibility—Timing of your tax deduction can be separate from your charitable decision making.
- Tax efficiency—Contributions are tax-deductible, and any investment growth in the DAF is tax-free. It is also easy to donate long-term appreciated securities, eliminating capital gains taxes.
Do you have a DAF through Fidelity Charitable, Schwab Charitable, BNY Mellon Charitable Gift Fund or Greater Kansas City Community Foundation? Recommend a gift to Holy Apostles Soup Kitchen through your donor advised fund using DAF Direct.
If you don’t have a DAF but would like to open one, it’s an easy, three-step process.
- Establish your DAF by making an irrevocable, tax-deductible donation to a public charity that sponsors a DAF program. In addition to the examples listed above, Chase and Bank of America also have DAFs.
- Advise the investment allocation of the donated assets.
- Recommend grants to qualified public charities of your choice.