What is a Donor-Advised Fund (DAF)?
A donor-advised fund is a charitable investment account where you can deposit assets that you intend to donate to nonprofit organizations over time. Individuals and families alike can manage their charitable giving this way.
You can establish a DAF with the help of a sponsoring organization, typically community foundations or financial service companies like Fidelity, Schwab, and Vanguard. You’ll activate the DAF by making an irrevocable contribution to the fund, which is immediately tax-deductible, and advise the account manager to issue donations from the fund to your charities of choice. The selected charities then receive their donations in the form of a grant.
If you or your family currently make charitable gifts through a donor-advised fund at Fidelity Charitable, Schwab Charitable, or BNY Mellon, you can grant one to the Greenway Trust directly using the form below!
There’s currently over $160 billion in donor-advised funds across the country—that means billions in unrealized impact through donations to nonprofits. If you use a DAF to manage your charitable giving, we encourage you to consider unleashing its potential now, when it’s needed most, by meeting the #HalfMyDAF challenge.
The #HalfMyDAF challenge aims to move more money to nonprofits by offering matching grants. If you’re a DAF holder and make the commitment to give away half of the money in the fund by September 30, 2022, the grants you make are eligible for matches from #HalfMyDAF.
#HalfMyDAF will give dollar-for-dollar matching grants of up to $10,000 on June 24th and again on September 30th, 2022. There is also a chance for us to receive a dollar-for-dollar match of up to $100,000. What’s more, when you commit to granting half of your DAF, all the grants you make are eligible for matches, which means many other nonprofits can benefit as well and your donations can be doubled.
You can learn more about the #HalfMyDAF challenge at halfmydaf.com.