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Giving Through Your Donor-Advised Fund


DAF Challenge: Double Your Impact

Now is a great time to give through your Donor-Advised Fund (DAF)! Through September 30, your DAF gift can have double the impact. Our Board of Directors is generously matching all DAF contributions up to the first $500,000 received. This means every dollar you give through your DAF will be matched, allowing us to provide even more meals to families, children, and seniors in need across Eastern Massachusetts.

We’ve recently implemented DAFpay, powered by Chariot, making it quicker and easier than ever to donate through your DAF. With just three clicks, you can recommend a grant directly to GBFB, ensuring that your contribution reaches those who are facing food insecurity without delay. DAFpay allows you to give from your Donor-Advised Fund account at over 1000 financial institutions including Fidelity Charitable, Schwab Charitable, and Vanguard Charitable. If you have an account through another financial institution, please contact your financial institution directly to make a donation.

Click the DAFpay button to get started.

 

General Information

What is a Donor-Advised Fund?
A donor-advised fund (DAF) is a charitable investment account with a sponsoring organization that has immediate tax benefits and allows donors to recommend grants to qualified non-profit organizations over time. It makes managing your charitable contributions and fulfilling your philanthropic goals simple and easy.

Why choose DAFpay?

When you donate through Chariot, your data is always safe and secure. Chariot’s servers run in Amazon Web Services (AWS), providing top-of-the-line protection that evolves with the latest universal industry standards. Rest assured, third parties will never have access to your data, and all information is fully encrypted using industry-vetted protocols.

Chariot’s technology follows the same security standards utilized for linking bank accounts to financial applications like Venmo. No grants will ever be submitted without your verification and consent, ensuring that you are fully in control of your donations. Chariot is dedicated to maintaining the highest security standards, so you can give with confidence.

Learn more about the security of your data with Chariot.

How does it work?

GIVE: Make a tax-deductible donation by establishing a DAF account and donating cash, stocks, or non-publicly traded assets to be eligible for an immediate tax deduction.

GROW: Grow your donation, tax-free while you decide which charities to support.

GRANT: Direct your support to charities either right away or gradually, according to your preference and at your pace.

What are some key terms to know?

DAF Account: Charitable investment account for the sole purpose of supporting charitable organizations that are important to the donor.

Donor Advisor: The donor who makes recommendations on who and when to make a grant.

DAF Sponsor or Sponsoring Charitable Organization or Sponsoring Organization: A 501(c)(3) public charity that manages and administers individual DAF accounts, such as Fidelity Charitable and Schwab Charitable.

Grants: Donations to qualified non-profit organizations.

What are the main advantages of a donor-advised fund?

Simplicity – The DAF sponsor handles the record-keeping, disbursements, and tax receipts.

Flexibility – Timing of your tax deduction can be separate from your charitable decision making.

Tax Efficiency – Contributions are tax-deductible, and any investment growth in the DAF is tax-free. You can also donate long-term appreciated securities and avoid capital gains taxes so you can then support multiple charities from one block of stock.

Family Legacy – Build or continue a family tradition of philanthropy.

Low Costs – There is no startup cost to establish a DAF, though there may be a minimum contribution determined by the DAF Sponsor.

No Transaction Fees – Once approved, 100% of your recommended grant goes directly to your chosen charity.

Privacy – You can choose to remain anonymous.

How do I get started?
  1. Contribute: Make an irrevocable contribution to a sponsoring charitable organization to establish a DAF
  2. Name Your Fund: Choose a name for your DAF (e.g. “The John Doe Fund”). The DAF sponsor will then allocate the charitable contribution to the donor‘s DAF.
  3. Advise on Investments: The donor-advisor will work with the DAF Sponsor to guide how the fund’s assets are invested.
  4. Recommend Disbursements: The donor-advisor suggests grants (donations) to IRS-qualified non-profit organizations (Disbursements, must meet the DAF Sponsor’s grant-making criteria).
  5. Grant Approval: Once approved, the grant is made to the chosen non-profit organization.

For more information, please contact Jinky Aleman-Roche at 617-598-5072 or jroche@gbfb.org.

 

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