7 Reasons To Give Via Donor-Advised Funds Instead Of Credit Card, Check, Or Stock

credit:

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

Read the Entire Article

How's Your Community Doing?
Check Out it's
Community Vital Signs

West Hartford Will Use State Grant to Improve Sidewalks Across Town

Pedestrians in West Hartford, Conn., will soon be able to cross more easily thanks to a $697,000 state grant. The Hartford Courant reports that the money from the Department of Transportation's...more

Social Enterprise and Training Center in Albany Celebrates State Grant

"I tried to get half and half the other day. I had to walk four city blocks, just to get a quart of half and half so I could have coffee. So to even get food around here is difficult," David...more

Spokane Businesses Owned by People of Color Awarded New State Grant Funds

People of color make up about 20% of Spokane County, Wash., but they own about 8% of the county's businesses, reports the Spokesman-Review. That's why the Spokane Workforce Council is...more

Video Production Company Signal Sing Praises of Aberdeen School Kids

More than 3,000 kids in Aberdeen, Scotland, sang "Northern Lights of Old Aberdeen" in front of thousands of family and friends over the weekend as part of the city's annual "Big Sing" event, the BBC...more

Academic Awards Presented at Cape Hatteras Secondary

North Carolina's Cape Hatteras Secondary School has named its top students for the 2023-24 school term. Here are the top 10, per the Daily News: Zion Aiken: Math Iadette Harris: English IZander...more

Fitchburg State Offering New Creative Degrees

Massachusetts' Fitchburg State University is adding two new majors this fallone in creative arts therapies and one in creative arts enterprisemaking it the first public institution in the state to...more

Nbta Survey to Shed Light on Parties' Stance on Education Ahead of Election

The New Brunswick Teachers Association is asking teachers and voters in the Canadian province to take a survey ahead of the next provincial election in September, the CBC reports. "We've seen a...more

Pratt Institute President Frances Bronet Elected Aicad Board Chair

Frances Bronet, president of New York's Pratt Institute, has been named chair of the Association of Independent Colleges of Art and Design, a group "dedicated to strengthening creative institutions,...more

Press Release: Ok Arts Council Grants and Programs Offered for Fiscal Year 2025

The Oklahoma Arts Council has released its annual list of grant requests, and it's a doozy. This year's list includes a call for artists to "bring the arts to other statewide organizations," as...more

Assistant Coach/Director of Men'S Basketball Operations Creative Content

Northern Illinois University is looking for a full-time assistant coach for its men's basketball team, the Chicago Tribune reports. The ideal candidate will have at least three years' experience...more