Organize your Charity! – LivingMini®

Giving to charity is rewarding.

But giving to charity responsibly is a bit more challenging. One easy way to track your charitable donations is to use a Donor Advised Fund (DAF).

At the end of the year, I opened a DAF at Fidelity because they have one of the lowest minimum contribution levels at $5,000. Bank of America and Charles Schwab also offer DAFs for minimum investments of $5,000 and $10,000 respectively.

Key Features of a DAF:

• • Immediate tax deduction
• • Flexible grant making — Make grant recommendations now or in the future
• • Personalized account name: Mine is GoErinGo!
• • Unlimited advisors
• • Wide variety of assets are accepted, including cash, securities and non-financial assets like art or land leases
• • Broad range of investment options
• • Unlimited generational transfers
• • Straightforward, transparent reporting to track your giving history

This entry was posted on Sunday, January 10th, 2010 and is filed under Hearth.