You know donor advised funds (DAFs) for their convenience and simplicity. But have you considered taking your donor advised fund one step further to build a lasting legacy at Animal League America? Here are two simple options to ensure future support:
Joe and Laura establish a $25,000 donor advised fund with a community foundation. The couple receives a federal income tax charitable deduction for the amount of the gift. After researching community needs with the foundation’s staff, Joe and Laura recommend grants for North Shore Animal League America (which they’ve supported for years) and a local charity. The foundation presents the charities with checks from the Patricia Fund, which Joe and Laura named in honor of Laura’s mother. Joe and Laura also name North Shore Animal League America as the beneficiary to receive the account balance after their lifetimes.
If you want to donate real estate, tangible personal property or business interests, but your charity of choice is unable to accept these gifts, consider donating the assets to your donor advised fund.
Review your donor advised fund investment strategy, just as you would to maintain any other investment. You may also want to consider socially responsible investments—those that meet the highest environmental, social and governance standards.
To maximize the tax advantages of making a gift to a donor advised fund, you can use a planning strategy known as bunching. Here’s how:
For more information, please contact us. We are happy to answer questions about how your DAF can benefit Animal League America both today and in the future at no obligation.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance. A copy of our most recently filed financial report is available from the Charities Registry on the New York State Attorney General’s website (www.charitiesnys.com) or, upon request, by contacting the New York State Attorney General, Charities Bureau, 28 Liberty Street, New York, NY 10005, or us at 16 Lewyt Street, Port Washington, NY 11050. You also may obtain information on charitable organizations from the New York State Office of the Attorney General at www.charitiesnys.com or (212) 416-8401.