Your financial and charitable goals are a reflection of your commitment to support the future of your loved ones, charitable organizations you value, such as the University of Kentucky, and the greater community. But sometimes it can be difficult to keep track of the organizations you wish to support and the documents required to receive your benefits from charitable gifts. A convenient and easy way to organize your charitable intentions is to create a donor advised fund. Consider it one-stop giving.
A donor advised fund (DAF) gives you the flexibility to recommend how much and how often money is granted to the University of Kentucky and other charities. You transfer cash or other assets to the UK Donor Advised Fund, community foundation, commercial donor advised fund, or other sponsoring organization. You can then recommend how much and how often money is granted.
Setting up a DAF qualifies you for a federal income tax charitable deduction when you make a gift to the fund—without immediately having to choose the charities you want to support. If you so choose, you can support a number of charitable organizations without having to retain records for a number of separate contributions.
Advantages
Donors enjoy a certain level of privacy, having the option to keep donations anonymous. These funds are flexible —you can add to the fund at any time, and you don’t need to have a specific purpose for each gift. And again, the funds offer the simplicity of keeping a multitude of philanthropic activities organized in one stream of documentation and finances.
Where to find donor advised funds.
Begin with our UK Donor Advised Fund.
Evaluate the donor advised fund carefully.
When you make a gift to a donor advised fund you irrevocably give away your money or property. Make sure the organization you select is one that supports your values.
Understand the fund’s policies and procedures.
Minimum contributions, as well as the amount and frequency of grant recommendations, all vary depending upon the donor advised fund.
Consider costs and investment results.
All donor advised funds charge administrative fees that can vary considerably.