In a family fund, there are two roles available: Organizer and Family Member. A Family Member in a Daffy family fund has the ability to make a donation request. The fund organizers will be notified who made the request and the donation amount requested. However, only organizers can approve these donation requests. This ensures that all donations are in line with the family's philanthropic goals and are approved by the fund organizers.
Daffy is a great option for a Donor-Advised Fund (DAF) as it is designed to accommodate multi-generational families. It supports up to 24 members under one fund, and anyone aged 13 and over can be a member. Each family member gets their own secure Daffy account, allowing them to follow the charities that are most meaningful to them, request donations for approval, and receive notifications whenever anyone in the family makes a new donation.
Moreover, Daffy is designed to support everyone's giving. It allows couples to easily keep track of their charitable giving and support each other's philanthropic passions, even if they support different charities and causes. All charitable contributions for the year are kept in one simple location, making it easy to track during tax season.
In conclusion, Daffy provides a platform that not only encourages generosity but also fosters family unity and shared philanthropic goals. It's easy to use, secure, and designed to accommodate everyone's giving preferences.
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.