Home > Legacy & Gift Planning > Gifts That Make an Impact Now

Gifts That Make an Impact Now

If you would like to support the youngest members of our community today, consider the giving options below - many of which have financial and personal benefits to you!

A donor-advised fund (DAF) is like a charitable investment account that is set up for the sole purpose of supporting charities. Individuals can contribute cash, stocks, or other assets into the DAF and receive an immediate tax deduction. Those funds are invested for tax-free growth and the individual can recommend donations to charities of their choice over time.

Donor-advised funds are the fastest-growing charitable giving vehicle because they are the easiest, and most tax-savvy way to give to charities like WCEL.

What is a Donor-Advised Fund?


How does a donor-advised fund work?

  1. To establish the fund, an individual makes an irrevocable tax-deductible contribution (cash, stock, real estate, etc.) to a sponsoring organization, community foundation or financial institution. Individuals receive a tax receipt and tax benefits when funds are deposited into their DAF.

  2. The DAF sponsoring organization oversees those funds as they grow tax free. 

  3. The assets within the fund now legally belong to the sponsoring organization but the DAF account holder retains advisory privileges over disbursements made from the DAF in addition to the investment strategy.

  4. DAF account holders can recommend single or recurring donations to charitable organizations. Funds in a DAF can only be used to support organizations that are tax-exempt 501(c)(3) and classified as public charities under 509(a).

  5. Once the DAF sponsoring organization approves, the recommended donation is made to the qualified charitable organization, such as WCEL.

Our Team is Here to Help!

Have questions or ready to get started? Fill out the form below and a member from our team will contact you.

The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, it is expressly recommended that you consult an attorney, financial advisor or other qualified professional.

Previous
Previous

Gifts That Reduce Your Taxes