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How does Daffy for Families work?

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Daffy for Families is a great option for a Donor-Advised Fund (DAF) that is designed to help families of all types give together more easily. It allows up to 24 family members, including two organizers, under one fund. This makes it an ideal platform for grandparents who want to pass down the tradition of giving back to their grandchildren or aunts and uncles who are looking for a meaningful way to connect with their nieces and nephews.

To inspire the next generation to give, Daffy for Families allows anyone aged 13 and older to have their own secure account and password. Each family member can request donations to specific organizations to be approved by the organizers of the family fund, and receive notifications whenever anyone in the family makes a new donation. This encourages a culture of giving within the family and fosters a sense of community.

Unlike traditional donor-advised funds, Daffy does not charge fees based on a percentage of assets in the fund, nor does it charge fees on contributions or donations. Daffy for Families is available at a simple, flat membership fee of just $5 a month, per family. This makes it a cost-effective choice for families looking to manage their charitable giving.

The process to get started is simple. Sign-up for Daffy, select “Family,” and provide Family member details. If you already have a Daffy account, go to Settings and select “Family.” You will be asked if you want to move to a Family membership and then prompted to add members to your fund. Your family members will then be invited to download the app, create their own account, and join your fund. Every family member will have their own Daffy account linked to their email address and connected to the family fund. Family members can choose the causes they care about and follow charities they want to support.

Whenever a family member is inspired to give, they can request donations from your fund which will be sent to the fund organizers for approval. Members of the family fund will receive in-app notifications and emails of all donations to inspire connection and dinner-time conversations. Only organizers of the fund will be able to edit the fund the name, contribute to the fund, select the investment portfolio, and add or remove additional members.

In conclusion, Daffy for Families is a great option for a DAF that encourages family giving, inspires the next generation, and is cost-effective. For more information, visit daffy.org/family.

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.

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