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7 Reasons To Give Via Donor-Advised Funds Instead Of Credit Card, Check, Or Stock
Foundation: National Philanthropic Trust, Schwab Charitable
It's that time of year again: time to start thinking about what you're going to do with the money you've saved up for retirement and how you're going to use it for charity.
If you're not sure what to do, the Chronicle of Philanthropy has just the thing: a primer on donor-advised funds, or DAFs, which, as the name suggests, allow you to donate money directly to a charity without having to enter your credit card information.
In fact, DAFs have grown substantially in recent years, with an estimated $230 billion in 2 million accounts as of May 31, 2024, according to a report from the National Philanthropic Trust.
They also offer a number of tax benefits, including a standard deduction of $14,600 for single filers and $29,200 for married couples filing separately, and a maximum deduction of 60% of adjusted gross income (AGI) per year, which is limited to donations made directly to a DAF or to a private foundation (which, under IRS rules, must distribute 5% of their net value to charities each year).
But there are a few things to keep in mind.
First, the deduction is limited to donations made directly to a DAF (or to a private foundation), and the money
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