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I've handpicked articles and stories that resonate with both my clients and myself, with the goal of providing you with valuable, practical insights that you may find both informative and useful.

Wednesday, October 12, 2022

Donor-Advised Funds Combine Charitable Impact with Tax Benefits

 Donor-Advised Funds Combine Charitable Impact with Tax Benefits

A donor-advised fund (DAF) is a charitable account offered by sponsors such as financial institutions, community foundations, universities, and fraternal or religious organizations. Donors who itemize deductions on their federal income tax returns can write off DAF contributions in the year they are made, then gift funds later to the charities they want to support. DAF contributions are irrevocable, which means the donor gives the sponsor legal control while retaining advisory privileges with respect to the distribution of funds and the investment of assets.

Read more at Mark Toney IFA Newsletters

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