Use your donor advised fund to make an impact!
Giving to a nonprofit such as LifeWorks NW through your donor advised fund (DAF) is a great way to maximize your charitable impact. You should have received a tax deduction when you contributed to your DAF. Now, you can use your DAF to support the causes you care about, such as improving wellbeing for all through the services LifeWorks NW provides.
What is a donor advised fund?
A DAF is a charitable investment account for the sole purpose of supporting nonprofits you care about. You contribute to a DAF through a bank, investment company, or charity, such as Oregon Community Foundation, Schwab Charitable, or Fidelity Charitable, where the money is invested and, hopefully, grows. When you are ready, you advise the administrator to make a gift from your DAF to your favorite nonprofit. Note that, as an “advised” fund, administrators are not bound to follow your request but nearly always do, unless there is a problem with the intended recipient.
What are the benefits of a donor advised fund?
There are several reasons why you may want to consider a DAF for your charitable giving. DAFs allow you to:
- Control the timing of your deductions and donations
- Effortlessly give to charity (anonymously if you wish)
- Pass ownership to children or friends to create a legacy or designate your final distribution to the charity of your choice
LEARN MORE
Ask your tax or investment advisor about giving through DAFs and visit our giving website for more information.
