Donor Advised Funds
What is a Donor-Advised Fund (DAF)
A Donor-Advised Fund (DAF) is a convenient charitable giving fund that allows you to designate your favorite charities as beneficiaries. DAFs are the fastest-growing tool for charitable giving in the United States because they offer an easy way to get immediate tax breaks while saving money to give away over time.
DAFs can be established through many community foundations and financial institutions, such as the Community Foundation of Snohomish County, the Whidbey Community Foundation, the Seattle Foundation, Fidelity Charitable, or Schwab Charitable. This way of giving is popular among donors who want to give to the Sno-Isle Libraries Foundation and other charities throughout the year and for extended periods of time.
How a DAF Works
- You open an account and contribute cash, investments, and/or assets. These funds can be invested for tax-free growth. You can even name your account, e.g., The Johnson Family Fund.
- You qualify for a federal income tax charitable deduction at the time you contribute to the account, which means you only have to keep track of one receipt.
- You can then recommend how much and how often money is granted to your favorite charities—like Sno-Isle Libraries Foundation!
Making a DAF Gift to Sno-Isle Libraries Foundation
- Legal Name: Sno-Isle Libraries Foundation
- Federal Tax ID: 91-2010318
- Mailing Address: 7312 35th Ave NE, Marysville, WA 98271
If your DAF is with Fidelity Charitable, DAFgiving360, or BNY Melon, you can give to use directly through DAF Direct.
DAF Benefits
- Contributions via DAFs help donors maximize tax benefits and are eligible for tax deduction.
- Donors can contribute immediately, build a philanthropic strategy, and recommend grants when ready.
- Charitable assets may grow over time, making more charitable dollars available to nonprofits.
- DAFs provide streamlined grantmaking, helping philanthropic dollars reach nonprofits quickly and efficiently.
- DAF sponsors handle all due diligence and reporting, simplifying organization and administration.
- DAFs can be used to facilitate a charitable legacy, dovetailing conveniently with estate planning.
- Donors can choose how they are acknowledged and what personal information they wish to share when making grants from their DAFs.
- DAFs can be useful in the development of donors’ philanthropic vision, strategy and philosophy.
- DAFs can accept as contributions a wide range of assets such as cash, stock, cryptocurrency and real estate.
Questions about making a DAF gift? Please contact us at Foundation@sno-isle.org.
A DAF distribution is subject to IRS charitable contribution restrictions. The language on this website should not be construed as legal advice. Please contact your attorney or financial advisor to determine what is best for your personal situation.
7312 35th Ave NE
Marysville, WA 98271
360-651-7074 (local)
877-766-4753 ext. 7074
