Donor-advised funds (DAFs) are one of the most popular charitable giving vehicles available today, growing in popularity even before the 2017 tax law changes took effect.
Instead of giving directly to a charity or setting up a foundation, DAFs allow donors to pool donations into one fund, deduct the entire contribution in one year, and advise the fund manager over time on the charities to donate to.
DAFs have been growing in popularity in recent years for their tax advantages, simplicity, and convenience. Donations can be done by the donor online, like digital banking, while the recordkeeping is handled by the fund manager.
To learn more about using DAFs, contact your William Blair representative.