Donor advised funds (DAFs) are a great solution for those who need a charitable deduction now, but want to make gifts to organizations of their choosing on their own timeline.

There are several benefits associated with establishing a DAF, including:

• Establishing a flexible vehicle for annual charitable giving
• Benefitting from a more tax- and cost-efficient alternative to a private foundation
• Obtaining an immediate charitable income tax deduction for gifts to your donor advised fund
• The ability to support organizations you care about now and in the future

To establish a donor advised fund, you make an initial, irrevocable gift of cash or stock to fund a DAF at a sponsoring organization. The assets in your DAF will grow tax free. You can make recommendations for gifts to be made from your DAF to organizations you care about.