The Giving Fund (Donor Advised Fund)
Giving Fund Features:
- Immediate Deduction, Delayed Giving: receive a tax deduction now (especially with appreciated assets) while deciding which charities to support.
- Simplicity: reduce the need for tracking multiple donation receipts.
- Legacy Planning: allows for successors (family members) to manage the fund after the donor’s death.
- Fees: NO administrative fees
- Minimums: $1000.00 per donation, $100.00 minimum per distribution.
- Payout: to churches, Christian Aid Ministries, and other charities. Never to an individual.
- Account balance: view transactions, request distributions, and make gifts, under My Giving Fund.
A DAF, is like a Charitable Checking Account!
Imagine an account that you gift into. The funds remain in the account until you are ready and have decided where the money should go to.
When you contribute to a DAF, you can take an immediate tax deduction, (if applicable), but delay the actual distribution to the church or charity that you choose. Since the distribution checks are written by CAM Foundation, you can remain completely anonymous if you wish.
Please note: CAM Foundation has the right to reject a distribution request. This usually happens when a church or charity falls outside of our values or guidelines.
“Bunching” is a strategy where you combine multiple years’ worth of charitable giving into a single year. Instead of donating $15,000 every year, you might contribute $45,000 to your DAF in one year and donate from the fund over the next three years. This lets you itemize your deductions in the year you contribute (when the total exceeds the standard deduction) and take the standard deduction in the other years.
Reduce or Eliminate Capital Gains Tax When appreciated real estate or securities are donated; the donor may not need to pay a portion or all of the tax on capital gains. Ask us for an illustration.