2023 - April Panel Discussion Recap
Key Takeaways:
With a growing interest in philanthropy, it's more important than ever to include donor advised funds (DAFs) into your conversations with your constituents. Make sure your website, print collateral, legacy planning materials and year end giving appeal include information about DAFs.
The motivation for someone to start a DAF begins with a philanthropic intent and a desire to give back. But there are many benefits of creating a donor advised fund. The donor can contribute not only cash, but stock, cryptocurrancy, mutual funds and more and the contribution qualifies as an immediate tax deduction.
We're finding that it's not only the wealthy setting up DAF accounts. Nonprofits need to embrace the small donors too and grow relationships with these donors. Find out what inspires them to give to your organization so you can steward them in the way that will grow their interest in your work and lead to larger gifts should they one day have a DAF.
Giving through a DAF offers more privacy for the donor compared to a private foundation because donors can remain anonymous. This is often a big motivator for a donor to give using a DAF.
Donor advised funds are not something to be afraid of! Discussing this option with your donors is not complicated once you do a little research on DAFs and how they benefit both the donor and the charity. Read some articles about DAFs online; listen to a Podcast or two. There's some really great information out there to help you take advantage of this giving vehicle.
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