When it comes to donor-advised funds (DAFs), Daffy stands out as a great option. Unlike traditional DAF providers like Fidelity Charitable, Schwab Charitable, and Vanguard Charitable, Daffy operates on a not-for-profit basis and is built around a modern platform for charitable giving.
One of the key differences between Daffy and other DAF providers is the fee structure. Traditional DAF providers typically charge fees based on a percentage of assets on accounts, which can create a conflict of interest. Every time you donate money to charity, they lose revenue. Daffy, on the other hand, charges a flat, monthly membership fee. This means more of your money goes directly to the charities and causes you care about most.
In addition, Daffy offers high-quality, low-cost investment portfolios and doesn't charge charities any fees, ensuring they receive 100% of every donation. Daffy also provides a simple and transparent membership pricing structure, with features such as unlimited donations to almost every U.S. public charity, including schools and religious institutions, and all of your tax receipts in one place.
Transferring money from an existing DAF to Daffy is also a straightforward process. All you need to do is open an account at Daffy, select “DAF Transfer”, and then make a “grant recommendation” to Daffy Charitable Fund from your existing fund.
In conclusion, Daffy offers a unique, cost-effective, and user-friendly platform for managing your DAF. Whether you're looking to be more intentional with your giving, consolidate all your donation receipts into one place, or maximize the many tax benefits of giving through a DAF, Daffy is a great option to consider.
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.