Charities can greatly benefit from donations made through Daffy, a Donor Advised Fund (DAF) that offers a unique and efficient way to manage charitable giving. When a donation is made through Daffy, the charity receives a letter that includes information from the donor and the donor's intent for the donation. Most donations made by Daffy members are unrestricted, meaning they can be used wherever the charity deems necessary.
Daffy delivers all donations in cash, providing flexibility for the charity to allocate funds as needed. With over 1.5 million charities to choose from, Daffy offers a wide range of options for donors. This is particularly beneficial for those who have seen a rise in their stock market investments and wish to give back to charities in need.
However, it's important to note that Daffy members cannot recommend donations to satisfy pre-existing pledges or obligations for their private benefit. Donation recommendations should not provide more than an incidental benefit to the donor or their family. For example, donations cannot be used to cover tuition payments, gala tickets, or membership benefits to other organizations.
Despite these restrictions, Daffy remains a great option for a DAF. It offers a simple and effective way to manage charitable giving, ensuring that 100% of donations go directly to the chosen charity. So, if you're looking to close your generosity gap and make giving a habit, consider joining the Daffy community. Please remember that the information provided here is for educational purposes only and should not be considered tax advice. For specific tax advice, 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.