Have you ever thought that a donor advised fund (DAF) is something that only “other people” can take advantage of? If any of the following statements ring true for you, then it’s time to reconsider.
- You support multiple charities, but you are tired of writing multiple checks to different organizations (and collecting documentation to itemize them on your tax return).
- You want to take your charitable deduction this year, but you also want more time to decide who and what to give to.
- You’re not a multi-millionaire, but you would love the opportunity to share your passion for your favorite charities with your children and grandchildren.
A donor advised fund (DAF) is a special fund within an existing charity. DAFs are similar to private foundations, but with much less administrative paperwork and less restrictive rules.
What’s better about Drexel’s DAF?
Partnership with Drexel: The Drexel DAF allows you to share in Drexel University's mission to fulfill our founder's vision of preparing each new generation of students for productive professional and civic lives while also focusing our collective expertise on solving society's greatest problems.
One Stop Giving: The Drexel DAF provides a convenient, cost-effective opportunity for charitable giving, particularly the gifting of appreciated assets, like stocks or mutual funds, which would otherwise be difficult or inconvenient to split between your favorite charities. Give now; recommend charities later. And you receive just one, concise receipt for income tax purposes.
Charity Recommendation: In addition to supporting Drexel University's schools and programs, the DAF allows you to recommend other charities to receive gifts from your fund, too.
Advantages over Commercial Donor Advised Funds and Private Foundations: We genuinely want to develop long-lasting relationships with our DAF donors. This relational approach is a refreshing alternative to the computerized, internet, telephone-tree driven world of commercial donor advised funds. Also, the efficiency and simplicity of the Drexel DAF makes it an attractive alternative to the expense and complexity of a private foundation.
Want to learn more about whether the Drexel Donor Advised Fund is right for you?
Contact David Toll, JD, senior associate vice president, Office of Gift Planning at 215.895.1882 or giftplanning@drexel.edu.