If you think that a donor advised fund is used only to meet the philanthropic goals of an individual donor –read on. Yes, a donor-advised fund, or DAF, is a philanthropic vehicle established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax benefit and then recommend grants from the fund over time. However, individuals are not the only ones who can set up DAF like funds- so can organizations and corporations.
Two of the DAF-like funds the Community Foundation for Palm Beach and Martin Counties offer can help organizations and corporations enhance their charitable giving.
The Committee Advised Fund can be established by groups, organization’s or businesses who want to come together to support causes they care about. A committee, as determined by the group or organization collectively determines where the funds will be directed.
The Corporate Giving Fund provides an alternative to managing a company charitable giving program. It provides the company the opportunity to support charities of choice on a timeframe that makes sense to them.
Both type of funds are convenient, efficient, and enduring.
- Convenient: Your company or committee can make grants at any time according to policy.
- Efficient: The organization or company received an immediate tax benefit while the Community Foundation handles all the administrative details.
- Enduring: Charitable distributions can be made now and in the future.
For more information, contact Sheila Kinman, CAP® Vice President for Development, 561-340-4503; firstname.lastname@example.org.