Daffy is a modern, community-oriented platform that offers a unique approach to charitable giving through a donor-advised fund (DAF). A DAF is a special type of financial account dedicated to charity, similar to a 401k for retirement or a 529 plan for college. However, unlike these other financial tools, DAFs have traditionally been marketed almost exclusively to the ultra-wealthy. Daffy is here to change that.
Daffy, which stands for the Donor-Advised Fund for You™, was designed from the ground up to make DAFs accessible to everyone, regardless of their wealth. It's a community bound together by a common commitment to regularly put money aside for those less fortunate.
Once you open a DAF with Daffy, you begin by contributing money to your charitable fund. This money is then invested, allowing your donations to grow over time. You can then decide when and to which charities you want to make donations. This approach not only allows you to be more strategic with your giving, but it also provides significant tax advantages.
When compared to traditional DAF providers like Fidelity, Vanguard, and Schwab, Daffy stands out in several key areas. Traditional providers often charge fees based on a percentage of assets in the account, creating a conflict of interest. Daffy, on the other hand, is a not-for-profit community, focused on helping people be more generous, more often.
In conclusion, Daffy is a great option for anyone looking to open a DAF. It's a modern, accessible platform that makes charitable giving easy and rewarding. Whether you're new to DAFs or already have one, Daffy is designed to help you make the most of your charitable giving.