A DONOR-ADVISED FUND, or DAF, is a giving account established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. Donors can contribute to the fund as frequently as they like, and then recommend grants to their favorite charitable organizations whenever it makes sense for them. Want to learn more? Click here!
The Community Foundation of Middle Tennessee makes it very easy to create a DAF. When you give to or through the Community Foundation it is a good idea to keep it local.
Just follow these 5 steps to get started:
1. Think about the charitable causes important to you. Funds at The Community Foundation support the broadest range of charitable needs, so whatever your idea, bring it to the table.
2. Review our Types of Funds. It only takes an initial gift of $5,000 to establish a fund ($10,000 for a Scholarship Fund).
3. Review the Types of Gifts, and decide how and when you want to give. You can start a fund with cash, securities, real estate, and more, or a deferred gift using a vehicle such as a trust, or insurance policy. Feel free to consult your professional advisor or accountant for information about tax advantages.
4. Call the Community Foundation of Middle Tennessee at 615-321-4939 to start a conversation.
5. After discussing your goals and options, they will draft the fund document (a simple agreement outlining the charitable goals of your fund and our policies). Once the document is signed and they have received your charitable gift, your fund will be established!
To learn more visit the Community Foundation of Middle Tennessee here!