By Nick Carney, Endowment and Legacy Giving Program Manager
Have you ever been invited to a celebration and were at a loss on what to give?
You are not alone. Gift-giving for graduations, weddings, birthdays, retirements, or any kind of occasion has gotten complicated because we have been blessed with so much. But recently, some have found a creative way to make it easy and meaningful with a Donor Advised Fund.
I recently attended a small intimate wedding for some close friends this summer. Because of the venue and restrictions during the pandemic, they, unfortunately, had to limit the attendance of their reception. Fortunately, it forced them to think hard about the 75 most influential people in their lives, ranging from areas like their childhood, family, friends, and work. During the reception, the groom made a speech that touched on the process of narrowing down their list. The key factor was asking who most helped define who the bride and groom were proud to be when they celebrated their marriage. Alongside looking at all the loved ones in their lives, they also thought about the nonprofits they actively supported that shaped one of their defining virtues. With that inspiration, they opened a Donor Advised Fund to make a lasting impact on the charities that impacted them. Being a younger couple facing costs of wedding expenses, they were currently unable to contribute much to their fund. However, they asked their wedding guests to contribute to their Donor Advised Fund and help be a part of the legacy symbolized by their marriage.
At the Catholic Community Foundation, we hear this story frequently from other newlyweds and from priests, religious, and people celebrating events of retirements, anniversaries, or funerals with tribute gifts. We believe our mission is to support what lies close to all their hearts by managing their Donor Advised Funds to give them the financial freedom to care for the missions they love.
Donor Advised Funds allow individuals with philanthropic intent to have their charitable assets professionally managed and distributed to desired causes. Imagine having the desired amount you wish to give invested and grown tax-free, which benefits you and the charity you want to support. Now, imagine during tax season looking for all the receipts for all the charities that you support. Instead, you only need to process one tax receipt from your Donor Advised Fund. If you start a DAF, or someone starts one for you, others can contribute and yield even more impact.
For questions and more information on the flexibility of charitable giving through a donor advised fund, contact The Catholic Community Foundation at 408-995-5219 or info@catholiccf.org