Shop local with your DAF

​

What is a donor advised fund (DAF) ?

A donor-advised fund is like a charitable savings account. It is a powerful way to manage your philanthropy and enjoy tax benefits. You put money in and then suggest which charities should get the funds over time. Your DAF can be flexible or endowed. It can be easy to start and less expensive to manage than a private foundation.  And it comes with nice tax breaks too.

​

Some reasons to start your DAF:

· Low contribution minimum (e.g., $10,000)

· Easy to setup and maintain

· You are involved in grantmaking

· Access to professional services from the Faribault Foundation

· Immediate income tax deductions

· Potential reduction of capital gains, gift, and estate taxes

 

The Faribault Foundation can assist you in establishing or moving* your DAF. 

The steps are quite simple. After determining with your tax professional, and financial advisors that a DAF is right for you:

Review the DAF related policies with the Faribault Foundation

Sign a letter of intent to establish your personal donor advised fund with the Faribault Foundation

Make the contribution that opens your fund and name your fund

Determine the successors or causes that will benefit from your fund after your death.

 

*If you already have a DAF, let’s talk about the process of moving it to the Faribault Foundation. 

Your benefits and opportunities are the same, but by allowing us the privilege of hosting your DAF, you help us improve the quality of life in Faribault by building the strength of the local community foundation. 

 

It’s like shopping locally for your DAF.

​

Call 507-805-8800 or email LauraBock@FaribaultFoundation for a confidential conversation.

​

​

​