A donor advised fund (DAF) is a type of giving fund administered by a third party that allows you to combine favorable tax benefits with the flexibility to easily support WINGS. It is created to manage your charitable donations and provides a way to simplify your charitable giving. DAFs allow you to give cash, stock, and other assets while receiving a tax deduction when the contribution is made. Then, you may use the fund to grant specific amounts to WINGS over time.
How It Works
- Establish your Donor Advised Fund by making an irrevocable, tax-deductible donation to a financial company that operates a DAF program, like Vanguard, Fidelity, or Schwab Charitable. Note: Financial institutions generally charge an administrative fee on the assets in a DAF. These fees vary by sponsoring organization.
- Determine the investment allocation of the donated assets (any investment growth is tax-free).
- Recommend grants to WINGS Program, Inc. whenever you wish to make a gift.