Level up your giving with a Donor-Advised Fund (DAF)

The Hirshberg Foundation has partnered with DAF Day for a new way to make a difference. On October 10, 2024, we’ll be joining a collaborative group of leading nonprofits, fundraising platforms, and providers of Donor-Advised Funds (DAFs) for a single day of unprecedented generosity. DAF Day is a new kind of giving day that reframes how Donor-Advised Funds are used and who uses them.

A Donor-Advised Fund is one of philanthropy’s fastest-growing vehicles today.As the Hirshberg Foundation drives research forward and provides critical services for patients and families, we understand that you want your contributions to make a significant impact. By opening a Donor-Advised Fund (DAF), you can easily amplify the value of your annual donations and make a difference.

You might think that Donor-Advised Funds (DAFs) are only for the financially established, but that’s a common misconception. By opening a DAF (with no minimum amount required), you can start making contributions to let those funds grow tax-free until you’re ready to donate! You can even give your DAF account a name that’s meaningful to you and your loved ones.

Young donors are opening brokerage accounts and financial literacy is woven into pop-culture. The reality is that teenagers are investing more than ever as well. You’re never too young or too old to set a goal to donate to your favorite charity every year.

Here’s how a Donor-Advised Fund will change the way you give, create a new financial vehicle to grow your wealth, and allow you to make a greater impact in the fight against pancreatic cancer.

WHAT IS A DAF?
Donor-Advised Funds (DAF) began to grow in visibility and popularity in the 1990’s, and today they are philanthropy’s fastest-growing vehicles. A DAF is an easy, tax-smart investment option for charitable giving. To put it simply: a DAF is an account set up through a brokerage firm where you can contribute cash and non-cash assets, invest, allow funds to grow over time, and then make an even bigger tax-free donation!

WHAT ARE THE REQUIREMENTS?
If you’re a U.S. permanent resident with a social security number, you’ve met the criteria. You likely already have a checking and savings account – to start a Donor-Advised Fund you’ll simply open a brokerage account and fill out a form. Banks like Wells Fargo, Charles Schwab, Vanguard, and Fidelity offer DAF accounts as well as online apps like Daffy and Charityvest. You may already have an account used to invest in stocks, save for retirement, or set aside money for your child’s college fund. Sign in to your account and visit the charitable giving section.

WHAT ARE THE STEPS TO MAKE A DAF GIFT?
There are three simple steps to get the ball rolling:

1. Open an account and contribute cash, assets, or investments
2. Invest by selecting from some optional investment pools
3. Grant funds to a public charity such as the Hirshberg Foundation

HOW TO PERSONALIZE YOUR DAF…
When you create your Donor-Advised Fund, there will be a moment when it’s clear just how meaningful this financial step is for you personally. It’s the moment when you name your DAF.  This is an opportunity to name it after your family or a loved one. You’ll often find DAFs named “the Johnson Family Fund” or named after a loved one, such as “the Sharon Smith Fund.”

Questions about Donor-Advised Fund giving? Contact Sarah Banks, Development Director [email protected] or (310) 473-5121.