Donor advised funds (DAFs) support charitable giving by maximizing tax savings and tax free investment returns; however, with an average account balance of $234k, high minimum requirements and ongoing management fees, these accounts have primarily been used by high net worth individuals.
The Givinga Foundation is a 501(c)(3) public charity that provides universal access by removing financial barriers to entry with no minimum balance required, fee free accounts that maximize the impact of your charitable donations.
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No fees. No minimums
100% of all donations go to charity
Web based administration
Access to over 1.8 million charities
Flexibility & control
3 basic activities that occur in the use of a DAF:
By making contributions of cash, or other assets, all deposits are considered by the IRS to be tax-deductible contributions.
All assets in a DAF can be invested and deliver returns that are tax free.
The donor advises the Sponsoring Organization to make grants out of their DAF account to approved charities.
The tax-deductible activity takes place when the funds are deposited into your account, which allows for strategic planning and “bunching” of donations to help control your tax liability.
The flexibility of a DAF makes it easy to contribute almost anything of value and receive a tax deduction for its current value while avoiding capital gains tax.
Invest the balance of your DAF to generate a return on your funds before they are donated to a charitable organization, giving you advisory control over the gains without the capital gains tax.