As 2018 came to an end, the Jewish Federation Foundation of Greater Rhode Island saw an upswing in the number of donors interested in creating Donor Advised Funds. The use of DAFs remains a relatively small part of philanthropy, but their popularity has mushroomed in recent years.
A Donor Advised Fund is a charitable-giving fund created, at the JFF, with an irrevocable gift of $2,500 or more, which can be replenished at any time. The money is added to the JFF’s $60-million endowment fund, which is invested with the Rhode Island Foundation. This allows the donors to recommend grants to their favorite Jewish and secular nonprofit organizations, or even to pay synagogue dues, from their DAF.
Creating a DAF centralizes a donor’s charitable dollars in one convenient account, providing maximum tax advantages and flexibility in grant-making. The donor may be an individual, a family or a corporation. Funds are started with a simple letter of agreement, which can be completed in minutes.
DAFs are like personal charitable savings accounts, allowing the donor to pool his money in one place and decide where to donate it later. Among the many benefits and advantages of creating a Donor Advised Fund with the Jewish Federation Foundation of Greater Rhode Island:
For more information on easy ways to establish a Donor Advised Fund with the Jewish Federation Foundation at the Jewish Alliance, contact Trine Lustig, chief development officer, at email@example.com or 401-421-4111, ext. 223.