The answer is no. As with all donor-advised funds, Daffy members cannot recommend donations to satisfy pre-existing pledges or obligations for their private benefit. This includes expenses such as tuition payments, tickets to a gala, or membership benefits to other organizations.
However, this does not diminish the value of Daffy as a donor-advised fund (DAF). In fact, it highlights the integrity of Daffy in ensuring that donations are used for their intended charitable purposes. Daffy is a not-for-profit community of members committed to setting money aside for those less fortunate.
With Daffy, you can recommend donations to over 1.5 million charities in the US, right from your iPhone. This makes the process of giving easier and more accessible. Plus, Daffy delivers all donations to charities in cash, providing flexibility for the charities to use the funds in a way that best aligns with their mission and tax-exempt status.
So, while Daffy funds cannot be used to satisfy pre-existing pledges or obligations, they can be used to make a significant impact on the causes you care about. Join Daffy today and make giving a habit.
Please note that the information contained in this blog post is for educational purposes only and should not be considered tax advice. To assess your specific tax situation, please consult with a tax professional.
Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.