DONOR-ADVISED FUNDS : A SIMPLE AND SMART WAY TO GIVE
A Donor-Advised Fund ( DAF ) is a charitable giving vehicle that can be funded through one contribution and then allows you to make grants over time to qualified charities of your choice , like the CHEST Foundation .
You receive an immediate charitable tax deduction for the contribution , and the DAF will grow tax-free over time . Additional contributions can be made while the grants are done on your time table . Gifts of long-term appreciated assets will avoid any capital gains tax . You can contribute cash , mutual funds , stocks , real estate , and other complex options like private equity interests or privately held C-Corp stock to your DAF . For more information on these and other ways to support the CHEST Foundation , confidentially and with no obligation , contact our staff at chestfoundation @ chestnet . org .
CHARITABLE GIVING THROUGH A DONOR-ADVISED FUND
Foundation Trustee , Ed Diamond , MD , FCCP , is one of the first CHEST Foundation Champion ’ s Circle and Founder ’ s Society donors to make a major gift through a DAF . We thank the Diamond family for their incredible dedication to the CHEST Foundation and their unending support to championing lung health . It is our pleasure to share a recent interview with him .
What has been your experience with your DAF ?
Several years ago , I made my initial investment into a donoradvised charitable giving account . I love everything about it . The operations are smooth . The record keeping is effortless . The staff is readily accessible by phone if needed to facilitate the process .
How do you obtain a DAF ?
DAFs are available at several of the large brokerage firms including Schwab , Vanguard , Fidelity and T . Rowe Price . At times that I seek a tax-deduction , I access my accounts , identify appreciated assets , and with a click of the mouse , transfer the stock into the donoradvised fund .
Why was this choice right for you and your family ?
It ’ s easy to use . Within the fund , the stock is converted to cash and invested in whatever fund I have chosen . I am credited in that year for the tax deduction on the entire amount . I then have a pot of money that I can gift over future years to any number of charities . The website maintains a listing of my donations .
I love to involve my family in choosing the charities that we support . Of course , the CHEST Foundation is a prominent component of our donation profile .
Would you recommend this form of giving ?
I implore everyone to form a habit of charitable giving and to consider ongoing support of the CHEST Foundation . Gifting appreciated stock into a DAF is operationally easy and financially prudent .
Thank You
Thank you to our generous donors for championing lung health .
JUNE 2017 chestfoundation . org