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Donor Advised Funds

 

A donor advised fund (DAF) is a charitable giving program that allows you to combine the most favorable tax benefits with the flexibility to support your favorite causes.


If you have a donor advised fund, DAF Direct enables you to recommend grants to this nonprofit directly from your DAF (as long as your DAF's sponsoring organization is participating).

Are you looking for an easy, cost-effective way to support the Priests of the Sacred Heart and other causes you love? A donor advised fund, which is like a charitable savings account, may be the right choice for you.

Here's how it works. You transfer cash or other assets, such as appreciated stock, to a tax-exempt sponsoring organization, such as a public foundation or a national sponsor like Fidelity Charitable or Schwab Charitable ($5,000 minimum requirement). You can then recommend how much and how often money is granted to the Priests of the Sacred Heart or other qualifying 501(c)(3) charities, while avoiding the cost and complexities of managing a private foundation.

You qualify for a federal income tax charitable deduction at the time you contribute to the account, and you have the power to make recommendations on which charities to support whenever you want. You centralize your giving and record keeping in one location. And you can name a successor beneficiary for your fund and extend your legacy of giving beyond your own life.

An Example of How it Works

Steve and Kathy Collier want to give back to their community by putting their money where they believe it will do the most good. They establish a $25,000 donor advised fund with their community foundation. The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support. After researching community needs with the foundation's staff, Steve and Kathy recommend grants for the Priests of the Sacred Heart (whom they've supported for years) and the local food bank. The foundation presents the charities with checks from the Collier Fund. Steve and Kathy name the Priests of the Sacred Heart as a successor beneficiary of their donor advised fund knowing that their legacy of support will extend beyond their lives.

Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures - from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Seek the advice of your financial or legal advisor.
  4. Contact Pam at 1-866-268-0157 or Esta dirección de correo electrónico está siendo protegida contra los robots de spam. Necesita tener JavaScript habilitado para poder verlo. to discuss using donor advised funds to support the Priests of the Sacred Heart and our mission.
  5. If you include the Priests of the Sacred Heart in your plans, please use our legal name and Federal Tax ID.

Legal name: Priests of the Sacred Heart-Sacred Heart Monastery
Address: PO Box 367, Hales Corners, WI 53130-0367 
Federal Tax ID: 39-0836352

 

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Hales Corners, WI 53130

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