June 2019 Bar Bulletin
By LeAnne Moss
Are you looking for an easy way to manage your charitable giving? A donor-advised fund (DAF) might be for you. A DAF is a charitable-giving vehicle administered by a public nonprofit organization that manages donations on behalf of organizations, families or individuals. This public nonprofit serves as the sponsoring organization.
Once you make a contribution to the sponsoring organization, you receive a tax deduction and relinquish legal ownership and control over the funds. However, you and/or your representative (advisor) retain advisory privileges and at any time can recommend grants from the account to qualified nonprofit organizations. The sponsoring organization does the due diligence to make...