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.