Get the free Your Donor Advised Fund

This document provides a comprehensive guide to the Donor Advised Fund (DAF) at Austin Community Foundation, detailing how to establish a fund, make contributions, recommend grants, and understand the tax considerations and fees associated with donor advised funds. It also discusses the philanthropic goals of the foundation and the impact of community grants.

How to fill out your donor advised fund

How to fill out your donor advised fund

1. Choose a donor advised fund sponsor, such as a community foundation or financial institution.
2. Create an account by completing the required forms and providing necessary documentation.
3. Make an initial contribution to your fund, which may include cash, stocks, or other assets.
4. Decide on the investment strategy for your fund’s assets, if applicable.
5. Obtain your donor advised fund account number and details for online management.
6. Review your fund's goals and potential charitable organizations to support.
7. Submit grant recommendations for the charitable organizations you wish to support.
8. Keep track of your fund's performance and adjust contributions or grant distributions as needed.

Who needs your donor advised fund?

1. Individuals looking to manage their charitable giving more effectively.
2. Families who want to involve multiple generations in philanthropy.
3. Donors seeking tax advantages from their charitable contributions.
4. Nonprofit organizations that benefit from increased charitable giving through donor advised funds.
5. Financial advisors who aim to provide comprehensive estate planning and charitable giving options for clients.

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What is your donor advised fund?

A donor advised fund (DAF) is a charitable giving account that allows donors to make a charitable contribution, receive an immediate tax deduction, and recommend grants over time to their chosen charities.

Who is required to file your donor advised fund?

The sponsoring organization of the donor advised fund is required to file an annual information return, typically Form 990, with the IRS, which includes details about contributions, grants made, and administrative expenses.

How to fill out your donor advised fund?

To fill out the donor advised fund, you typically need to provide information on contributions made, grants recommended, and the overall purpose of the fund. Consult your sponsoring organization's guidelines for specific forms and details.

What is the purpose of your donor advised fund?

The purpose of a donor advised fund is to provide donors with a flexible and efficient way to manage their charitable giving, allowing them to recommend grants to charitable organizations over time.

What information must be reported on your donor advised fund?

Information that must be reported includes total contributions, grants made, fund balances, administrative fees, and investment income earned by the fund.