DAF: Donor-Advised Funds
Your donation can make a difference for Minnesotans facing cancer.
Angel Foundation™ offers relief to adults with cancer and their loved ones through financial assistance, education, and emotional support.
By addressing critical financial needs and offering wellness, social, and educational programs to adults with cancer and their families, we create a community of support for those who need it most. Ultimately, our goal is to help patients and their families find stability and develop the necessary skills to manage a cancer diagnosis at home while facing the future with increased resilience and renewed hope.
We have distributed more than $13.5 million in financial aid and have helped 45,000 local patients and families through social and educational programs.
What is a Donor-Advised Fund (DAF)?
A simple, flexible, and tax-advantageous way to give to your favorite charity.
A donor-advised fund, or DAF, is a charitable investment account for the sole purpose of supporting charitable organizations you care about.
When you contribute cash, securities, or other assets to a donor-advised fund at a public charity, you are generally eligible to take an immediate tax deduction. Those funds can then be invested for tax-free growth, and you can recommend grants to virtually any IRS-qualified public charity.
You want your charitable donations to be as effective as possible when you give. Donor-advised funds are the fastest-growing charitable giving vehicle in the United States because they are one of the easiest and most tax-advantageous ways to give to charity. Let’s take an in-depth look at how a DAF works.
How a Donor-Advised Fund works
Make a tax-deductible donation
Establish a Giving Account and then donate cash, stocks, or non-publicly traded assets such as private business interests, cryptocurrency, and private company stock to be eligible for an immediate tax deduction. A contribution to a donor-advised fund is an irrevocable commitment to charity; the funds cannot be returned to the donor or any other individual or used for any purpose other than grantmaking to charities.
Grow your donation, tax-free
While you’re deciding which charities to support, your donation can potentially grow, making even more money available to donate. Most sponsoring organizations have a variety of investment options from which you can recommend an investment strategy for your charitable dollars.
Support charities you love, now or over time
You can support virtually any IRS-qualified public charity with grant recommendations from the donor-advised fund—from your local homeless shelter to your alma mater, or a religious institution. The public charity sponsoring your account will conduct due diligence to ensure the funds granted go to an IRS-qualified public charity and are used for charitable purposes. A Fidelity Charitable Giving Account is a great way to support charities you love at a pace that is comfortable for you.
How can I use my Donor-Advised Fund to support Angel Foundation™?
We would love to have you support Angel Foundation™ with a gift from your donor-advised fund. The broker managing your account will ensure that Angel Foundation™ is an IRS-qualified public charity and that your gift to us will be used for charitable purposes, so you can rest assured that your donation is going towards providing relief for local cancer patients.
Through donor-advised funds, you can choose whether to recommend anonymous grants to Angel Foundation™ or to provide grant acknowledgment contact information (we want to thank you!) with their grant recommendations. While donors choose to provide information about themselves on more than 90 % of grants recommended through their broker, donor-advised funds offer the option for anonymous granting if you wish for your gift to remain private.
Additionally, you can specify if the gift can be used for general operations, a specific use, campaign, or purpose for your grant recommendation. While you cannot fulfill legally binding pledges with a donor-advised fund, you can attach a special purpose to your grants, which the sponsoring organization will relay to the charity. Similarly, you may make grant recommendations “in honor of” or “in memory of” a loved one. Please note there is a minimum donation amount of $2,500 to designate a gift.