Taking Charitable Giving Personally: A Donor Advised Fund

Taking Charitable Giving Personally: A Donor Advised Fund

 

If you take charitable giving personally, you should let us know.

Consider setting up a donor advised fund with the Community Foundation for Loudoun and Northern Fauquier Counties. We offer donor advised funds for anyone who wants to stay actively and personally involved in grantmaking.

Grant awards are issued to charities in the name of your fund (or anonymously, if you prefer). Gifts of cash, appreciated stock, real estate, or other assets can be donated to the Community Foundation into your fund. It’s a simple, powerful, and highly personal approach to giving.

And, because the Community Foundation for Loudoun and Northern Fauquier Counties is a public charity, gifts made into a donor advised fund benefit from maximum tax advantages. As for the varied annual tax filings with the IRS and State. . . not your worry. The Community Foundation files one, single document with each entity representing your fund and all the funds under its stewardship.

On the investment side, assets are pooled for greater diversification, yet accounted for separately, making creation of a fund with even modest assets (the Community Foundation requires a minimum gift of $10,000 to start a personal fund; $25,000 for a scholarship fund) easy from the start.

Donor advised funds also help to create family traditions lasting for generations. Including your children and grandchildren in the joy of giving teaches valuable lessons about life. Family members of all ages can work with the Community Foundation’s professional grantmaking staff to target both local and national issues you care about most.

Here’s another advantage: A year-end or lump sum gift made to the Community Foundation is a completed charitable gift, ensuring your tax benefits for that year. Meanwhile, grantmaking decisions can be easily deferred until the next year or beyond. And, you can put the Community Foundation staff to work researching charitable issues and rest assured legal due diligence and best practices are in place.

Personal, flexible, family involvement, local staff, local investment—all tied to your vision. It’s a great way to stay involved and use your resources to make a difference in a community you love.

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Amy Owen is the executive director of the Community Foundation for Loudoun and Northern Fauquier Counties.

 

 

 

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