The answer is a resounding no. Daffy, a modern platform for giving, is a not-for-profit community that operates a unique donor-advised fund (DAF). Unlike many DAFs that impose high minimum fees and charge based on the amount of money in the fund, Daffy has a simple, flat membership fee structure. This means that 100% of your donation recommendation always goes to the causes you care about.
Daffy's membership fees are tiered based on the amount you wish to contribute. For members with less than $100 in their fund, Daffy is free. For an individual fund with the ability to contribute up to $25,000 in stock, crypto, or through an existing DAF transfer, the fee is $3 per month. A family fund with the ability to contribute up to $50,000 in stock, crypto, or through an existing DAF transfer costs $5 per month. For individual or family funds with the ability to contribute unlimited stock, crypto, or existing DAF transfer, the fee is $20 per month.
Daffy was built to help people be more generous, more often. It offers high-quality, low-cost investment portfolios, ensuring more of your money goes to the charities and causes you care about most. Daffy also doesn’t charge charities any fees, so they always receive 100% of every donation. This makes Daffy a great option for a DAF, as it allows you to be more intentional with your giving, consolidate all your donation receipts into one place, and maximize the many tax benefits of giving through a DAF.
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.