A Donor Advised Fund (DAF) is an avenue for donors to connect with nonprofit 501(c)(3) organizations like College Possible. DAFs provide a flexible way for donors to pass money through to a charity, which absorbs management of the funds.
For donors utilizing a DAF, there are many benefits, including:
- DAFs can only distribute to 501(c)(3) organizations
- DAFs can have multiple donors and advisers
- DAFs allow for the contribution of illiquid (noncash) assets such as collectibles and real estate
- DAFs are less expensive than foundations to establish and provide a more streamlined transaction between donors and gift recipients
- Donors immediately receive tax benefits when contributing to a DAF; however, the funds can be distributed through grants at a later date
- DAF donors often focus their giving locally[1]
Interested in utilizing a Donor Advised Fund to support College Possible?
Find out how to connect with us here. Alternatively, you can collaborate with the sponsor organization/adviser of a DAF to facilitate a gift.
Support from our donors enables College Possible to provide high-quality, results-driven services to students from low-income and first-generation backgrounds. We deliver comprehensive coaching and support through every step of a student’s journey to college graduation in an effort to close the degree divide and open a world of possibilities for our students.
[1] Borucki, M. (2019, September 26) Who gives to a donor advised fund? [Blog Post] Retrieved from https://www.iwave.com/2019/09/26/who-gives-to-a-donor-advised-fund/
