Making Philanthropy Affordable with a Donor Advised Fund

By Robert on June 21, 2011 in Announcement,

The RJF board recently changed the Donor Advised Fund (DAF) policy to make philanthropy more affordable. The minimum amount to start a DAF is now $5,000 and the minimum that must be maintained in the fund is now $2,500 (new minimum applies to existing DAFs, as well).

A donor advised fund offers the opportunity to create an easy-to-establish, low cost, flexible vehicle for charitable giving as an alternative to direct giving or creating a private foundation. Donors enjoy administrative convenience, cost savings, and tax advantages by conducting their grantmaking through the fund. Donors can use their funds to recommend grants to all non-profit charities including local agencies, synagogues and the Federation. You can start your fund with cash or appreciated stock and take three years to fund to the $5,000 minimum level.

There is a one-time $100 set-up fee. The fund will be charged an annual fee of 1% of the fund’s balance with a minimum annual fee of $250.

If you are interested in starting a donor advised fund with Richmond Jewish Foundation please call the RJF office at 545-8656 or email Robert Nomberg if you have any questions about donor advised funds or if you are having problems accessing the online DAF application.