What is a Donor Advised Fund (DAF)?
Think of a DAF like a charitable savings account that you can set up through financial service firms (Edward Jones, Vanguard, Schwab, et. al.) or community foundations (Community Foundation of the Ozarks, Greater Kansas City Community Foundation, Community Foundation of Central Missouri, St. Louis Community Foundation, et. al.). It gives you the flexibilty to contribute how much and how often you want, making an immediate impact or leaving a lasting legacy. Though these funds have been around since the 1930s, they have just recently seen exponential growth the last 10 years in the United States.
Using a DAF may prove to be the simplest way to make a big impact with your charitable dollars. You can support the Missouri outdoors by putting your money where it will do the most good.
Why Consider a DAF?
We know there are so many different charities and so many worthy ways to make our world a better place. We also understand the burden that can come with splitting up all of your philanthropic dollars among different charities (i.e. writing a check, organizing all the tax letters, stacks of mail, etc). A DAF gives you the ability to make a single significant gift to support multiple charities, seriously simplifying your giving. Here are more reasons to consider a DAF:
- Contrubutions into a DAF are immediately tax-dedcutible charitable gifts, if you itemize. The balance does not need to be distributed out of the charity until you’re ready.
- You can contribute more than just cash, including stocks and real estate.
- You can contribute to the fund as frequently as you like and recommend grants to your favorite charitable organizations when it makes sense.
- Because your giving is consolidated, you’ll only get one tax receipt for all of your charitable giving at the end of the year.
- It’s a great tool for anyone committed to charitable giving.
- You can create a lasting legacy by naming the Missouri Conservation Heritage Foundation (MCHF) as the beneficiary of the account or a percentage of the fund.
Is a DAF Right for You? Let’s Talk!
If a DAF has caught your attention, we would love to chat with you and help you get started. Contact our office at 800.227.1488. You can also seek advice from your financial or legal advisor. If you include MCHF in your plans, please use our information below.
Legal Name: Missouri Conservation Heritage Foundation
Address: PO Box 366, Jefferson City, MO 65102-0366
Employee Identification Number: 43-1797156
We look forward to chatting with you and helping you customize and simplify your charitable giving!