Philanthropist and oil tycoon John D. Rockefeller famously said: “Think of giving not only as a duty, but a privilege.”
If you are of the same charitable mindset as John Rockefeller, you might consider a donor-advised fund (DAF).
A donor-advised fund (DAF) is a tool to which you make an irrevocable, tax-deductible contribution, which is then donated to some of your favorite charities. You work with a sponsor (a 501(c)(3) non-profit), which manages the account.
This worksheet will help you figure out whether a DAF can play a role in your giving strategies and offers tips to keep in mind when using a DAF.
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