Contributions to a Donor Advised Fund can provide an immediate tax deduction for the donor and help to reduce capital gains tax liability if the contribution is made via an appreciated asset such as stocks instead of cash.
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If you already have a DAF with a sponsoring organization such as Fidelity Charitable or Schwab Charitable, you can use the DAFDirect form on this page to recommend a grant to Family Service Agency. The process is straightforward and simple. Here is how a DAF works: You transfer cash or other assets to a tax-exempt sponsoring organization such as a public community foundation. You can then recommend how much and how often money is granted to Family Service Agency or your other charities. Many community foundations and sponsoring organizations have online portals for donors to log in and recommend grants which make for a very simple process. |
Your tax or financial advisor can provide information on how this applies to your tax situation. The Santa Cruz Community Foundation is also a great resource and sponsoring organization where you can learn more about the benefits of a DAF, please contact them at 831-662-2061 for more details.