A Donor-Advised Fund (DAF) acts as an investment account in a unique way. When you contribute to your DAF, your money is invested and has the potential to grow. This is a feature that sets DAFs apart from traditional charitable giving.
Daffy, a provider of DAFs, takes this a step further. Not only does your money grow tax-free, but Daffy also has the capabilities to liquidate complex assets like stock and crypto. This is a significant advantage as only a few thousand out of the 1.5 million charities in the U.S. can accept stock or crypto directly. By liquidating these appreciated assets, Daffy saves charities the hassle and costs, and you save on taxes by getting the fair market value and skipping the capital gains. This means you can make a bigger donation, creating a win-win situation for both you and the charity.
But the benefits of choosing Daffy don't stop there. Daffy offers a range of features designed to make your charitable giving easier and more effective. You can set a goal for how much you want to give each year, automate your contributions, set up one-time or recurring donations, and even search for charities nearby. Plus, Daffy organizes all your donation receipts to make tax season a breeze and offers a mobile app to help you give anywhere and whenever you're inspired to give.
Whether you're a seasoned philanthropist or new to charitable giving, Daffy can help you maximize your impact. By giving regularly and expanding options, Daffy benefits nonprofits by providing them a regular stream of income.
In conclusion, a DAF can be a great tool for good philanthropy. Not only are they an excellent way to save on taxes and give to charity, but with Daffy, we make it easy and low-cost so you can give more to the charities and causes you care about and pay less in fees. If you're ready to join the most modern and affordable donor-advised fund, sign-up with Daffy today.
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.