A donor-advised fund is a type of charitable gift that allows donors to give their money to a charity, and then receive an annual assessment on how much they want to give. The donor remains anonymous, but the charity receives the donation and can use it however they wish. You'll have a chance to decide how you want your gift to be used, whether it's for specific programs or general operations.
Donor-advised funds can benefit you in a few ways:
1. You may let the funds grow over time in your standard checking account.
2. You can transfer money into your donor-advised fund every year, so that when it comes time to make your annual tax return, all of your donations go toward giving back to society.
3. You can withdraw funds from your donor-advised account and then donate them directly to a charity of your choice!
4. When donations are made through donor-advised funds, they may be eligible for tax deductions based on their value (this varies from state to state).
Donor-advised funds can benefit you in a few ways:
1. You may let the funds grow over time in your standard checking account.
2. You can transfer money into your donor-advised fund every year, so that when it comes time to make your annual tax return, all of your donations go toward giving back to society.
3. You can withdraw funds from your donor-advised account and then donate them directly to a charity of your choice!
4. When donations are made through donor-advised funds, they may be eligible for tax deductions based on their value (this varies from state to state).