Why Donor Advised Funds
Are the Smart Choice
Enjoy maximum tax benefits, flexibility, and less hassle while making a difference in the causes you care about most.
Why Donor Advised Funds Are the Smart Choice
Enjoy maximum tax benefits, flexibility, and less hassle while making a difference in the causes you care about most.
What Is a Donor Advised Fund?
Imagine having the power to make a lasting impact on the causes you care about—all while enjoying simplified giving and tax benefits. A donor advised fund (DAF) is a flexible, cost-effective way for individuals, families, businesses, or groups to manage charitable giving. You can actively recommend grant awards to support your favorite nonprofits and ensure your philanthropy aligns with your values.
We are grateful for our trusted relationship with the Richland County Foundation. As a donor and fund holder the foundation has helped us establish an investment path that aligns with our goals for community impact.
During the process of setting up our fund they listened and provided us with education on the different fund options. This made us not only feel confident in our investment but also made us feel a part of something greater.
If you have ever considered learning more about how the foundation through its donors are doing impactful community work, we encourage you not to wait.
– Todd and Kristine Lindeman
Why Choose a Donor Advised Fund?
- Lower Costs: Easier and less expensive to manage than a private foundation.
- Maximum Tax Benefits: Enjoy the highest allowable tax deductions for charitable contributions.
- Flexibility: Support a variety of causes over time while growing your fund’s impact.
With a DAF, you simplify your giving while creating a legacy of compassion and impact.
Why Choose a Donor Advised Fund Over a Private Foundation?
Choosing a donor advised fund means less hassle and more time to focus on the joy of giving.
Choosing a donor advised fund means less hassle and more time to focus on the joy of giving.
How To Set Up a Donor Advised Fund
Getting started is easier than you think! Here’s how:
Make an Initial Contribution
Start your fund with a minimum of $10,000 (you have five years to reach this balance). Choose a name for your fund that reflects your vision and purpose.
Complete Simple Paperwork
Work with us to create a simple Agreement of Transfer, outlining your contribution, fund name, and the Foundation’s responsibilities.
Begin Making Grants
Recommend grants to qualified nonprofits according to your interests and the Foundation’s policies. The Foundation will maintain the confidentiality of donor contributions unless the donor requests otherwise.
Professional Fund Management
Your fund is invested by the Foundation’s Board of Trustees with a balanced approach for both current and future grantmaking.
Enjoy Tax
Benefits
Contributions to your fund are tax-deductible, and your fund’s growth is tax-free.
Annual Fees: An annual Foundation operating support fee is charged and allocated to all funds. The fee for a donor advised fund is .75% on the first $500,000, .50% on the value between $500,000 and $2,000,000, and .25% on the value more than $2,000,000. The fee is calculated and charged quarterly.
Real Stories of Impact
The Richland County Foundation has been instrumental in our growth, providing resources, guidance, and support. They helped us establish an endowment fund, ensuring a sustainable future for The Visual Bucket List Foundation. Their partnership strengthens our mission, allowing us to create lasting visual experiences for children losing their sight.
– Christine and Steve Myers
The Richland County Foundation provides several ways that we can support Law Enforcement, which is very important to us. [It] provides a way to increase our income through the use of Charitable Gift Annuities and helps decrease our Income Tax without itemizing deductions by accepting donations directly from our RMD’s thereby reducing our taxable income. They are great to work with!
– Merris and Jean Welge
Take the First Step Today
Ready to create a lasting impact? Setting up a donor advised fund is simple and rewarding.
Start Your Fund Today:
- Schedule a free consultation with our team. Please contact Chief Advancement Officer Maura Teynor at 419-525-3020 to discuss your giving goals.
- Choose a name and contribution amount that fits your vision.
- Begin granting to the causes you care about.
As a donor, you should have high expectations.
The following Donor Bill of Rights was created by the Giving Institute, Association for Healthcare Philanthropy, the Association of Fundraising Professionals, and the Council for Advancement and Support of Education. The Richland County Foundation encourages you to use it as a guide to determine whether we and/or any nonprofit is treating you fairly and respectfully for your generosity.
Donor’s Bill of Rights
Philanthropy is based on voluntary action for the common good. It is a tradition of giving and sharing that is primary to the quality of life. To ensure that philanthropy merits the respect and trust of the general public and that donors and prospective donors can have full confidence in the nonprofit organizations and causes they are asked to support, we declare that all donors have these rights:
- To be informed of the organization’s mission, of the way the organization intends to use donated resources, and of its capacity to use donations effectively for their intended purposes
- To be informed of the identity of those serving on the organization’s governing board, and to expect the board to exercise prudent judgment in its stewardship responsibilities
- To have access to the organization’s most recent financial statements
- To be assured their gifts will be used for the purposes for which they were given
- To receive appropriate acknowledgment and recognition
- To be assured that information about their donation is handled with respect and with confidentiality to the extent provided by law
- To expect that all relationships with individuals representing organizations of interest to the donor will be professional in nature
- To be informed whether those seeking donations are volunteers, employees of the organization, or hired solicitors
- To have the opportunity for their names to be deleted from mailing lists that an organization may intend to share
- Feel free to ask questions when making a donation and to receive prompt, truthful, and forthright answers
FAQs
Take control of your giving and make a lasting difference. Start your donor advised fund today and experience the power of impactful philanthropy. Contact Chief Advancement Officer Maura Teynor at 419-525-3020.
