Donor Advised Funds (DAFs) are the fastest-growing method and a tax-efficient way to manage charitable donations, regardless of your income level. DAFs provide a way for you to give more to the charities you love.
A DAF is a philanthropic giving vehicle administered by a charitable sponsor. A charitable sponsor is a 501(c)(3) organization, that has legal control over the DAF and is responsible for operating and maintaining it. Charitable sponsors include public charities, community foundations, and charitable funds that are associated with an investment firm. Examples include Vanguard Charitable, Fidelity Charitable and Schwab Charitable.
Here’s how it works:
- You make an irrevocable contribution of personal assets, including cash, stock, real estate and more.
- You immediately receive the maximum tax deduction that the IRS allows.
- You name your donor-advised fund account, advisors, and any successors or charitable beneficiaries.
- Your contribution is placed into a donor-advised fund account where it can be invested and grow tax-free.
- At any time afterward, you can recommend grants from your account to qualified charities like Woods.
DAFs are typically invested in mutual funds or other investment vehicles that allow the value of the funds to grow over time, increasing your ultimate philanthropic impact. Note that grants from DAF’s can’t be used to purchase event tickets or other benefits, or to fulfill a pledge.
To designate your grant to Woods speak with your Account Advisor at your charitable sponsor or use the Donor Advised Fund widget below. The Federal Tax ID # for Woods Services is 23-1322002.
Note that Woods Services is not qualified to provide specific legal, tax or investment advice. Please consult with your own legal and financial advisors before making any gift.