The Benefits of Donor-Advised Funds
Today, there are countless opportunities and ways to give to charity, whether online, by check, or simply giving time. Although these are common giving methods, there are strategic advantages in using a planned giving vehicle. Below is one of the simplest yet effective ways you can maximize your tax benefits while making make a larger impact with your charitable donation.
A donor-advised fund is one of the most popular charitable giving vehicles sustained by a public charity. Any gift you want to contribute is held by a DAF sponsor, which means you can make a donation without picking a charity immediately. You can send the money, whenever you wish, to your charity of choice and your account will grow tax-free. At the same time, you may qualify for a tax deductible donation if you itemize.
DAFs have become popular because they are easy and flexible. You will have to research a DAF that best fits what you’re looking for and falls in line with the cause(s) you wish to support.
- Tax-efficient – Your DAF contribution can be as low as $5,000 and tax-deductible.
- Convenient – DAFs are easy to set up, track charitable contributions, and access important documents.
- Flexible – You choose what charity your donation goes to and you can continue your giving legacy.
To figure out if a DAF is a good option for you, read more here.
Giving to Goodwill
Already have a plan in mind? Make your charitable donation to Goodwill of Central and Northern Arizona! Our long-term vision is to end poverty through the power of work. Every day, we provide thousands of Arizonans with training, skills, and resources to help them achieve employment. It’s all in thanks to the goodwill of others that we are able to give a hand up, not a handout, to Arizonans in need.
Contact us at 602-535-4139 if you would like to learn more and make your donation to Goodwill.