Are you looking for an easy, cost-effective way to support Coronado Schools Foundation and other causes you love and get a tax write off this year? A donor advised fund, which is like a charitable savings account, may be the right choice for you.
Here's how it works. You transfer cash or other assets like appreciated stocks to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted to CSF or other charities—sometimes as easily as using a Web portal. And you avoid the cost and complexities of managing a private foundation.
What do you receive in return? An immediate federal income tax charitable deduction at the time you contribute to the account, and the power to make recommendations on which charities to support whenever you want. You centralize your giving and record-keeping in one location. And maybe best of all, you can start a legacy of giving by letting your children help decide which grants to recommend. Contact your financial advisor as many companies can set up the DAF for you.
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