What is the purpose of Daffy and how does it work?


Daffy is a modern, innovative donor-advised fund (DAF) and not-for-profit community that is revolutionizing the way people give to charities. With a focus on making giving a habit, Daffy offers a platform where members can contribute to their Daffy funds using cash, debit/credit cards, stocks/ETFs, or crypto. This flexibility allows donors to support over 1.5 million charities across the US, anytime and anywhere, through the Daffy mobile app or website. Daffy donors are proactive and intentional about their giving, setting annual donation goals. The platform simplifies the process of recurring donations, allowing donors to automate their contributions with just a few taps. Donations are disbursed regularly based on a schedule chosen by the donor. One of the key advantages of Daffy is that it does not charge donation transaction fees. This means that 100% of all donations made through Daffy go directly to the charities. Currently, Daffy sends donations to charities via US Mail, but plans are underway to add the ability to receive donations via ACH transfers. Daffy also offers a unique program called Daffy for Work. This program leverages the success of the 401(k) to offer employers a simpler and more powerful way to encourage their employees to give. With Daffy for Work, every employee has access to a free, personal donor-advised fund. Employees can choose how much to put aside for charity, receiving an immediate charitable deduction for every contribution. The money is then invested in a selection of tax-free portfolios, compounding over time, and is available whenever they feel inspired to make a donation. Employers can encourage giving by either matching contributions to employee accounts or by making direct contributions to their employee accounts. Unlike complicated and under-utilized charitable gift matching programs, Daffy for Work offers a simple and elegant way for companies to show their employees that they care about giving. In conclusion, Daffy is a great option for a DAF. It offers a modern, flexible, and efficient platform for giving, making it easier for individuals and companies to contribute to charities. Whether you're an individual donor or a company looking to encourage employee giving, Daffy provides a seamless and impactful giving experience.

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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