After selecting the recurring contribution option on Daffy, you will be prompted to select a recurring amount and frequency. You can choose to make your contributions monthly, quarterly, or on a custom schedule. Once you've confirmed the contribution amount, frequency, and funding source, you're all set!
Daffy makes it incredibly easy to set up recurring donations to your chosen charity as well. Simply type in the name or Tax ID of the charity into the search bar, enter your desired donation amount, and select “Schedule a recurring donation”. You can then pick your preferred frequency and select a date for your funds to be withdrawn. Daffy will then send a donation from your fund to your selected charity on the date and frequency you selected.
If you ever need to cancel or edit your recurring contribution or donation, Daffy provides a straightforward process for that as well. For contributions, you can navigate to the “Contributions” section under "My Fund in 2022” and select “Cancel Recurring Contribution.” For donations, you can visit the "Donations" tab and your recurring donation should appear at the top under "Upcoming Donations," where you can select the option to cancel.
In conclusion, Daffy is a fantastic option for a Donor-Advised Fund (DAF). It offers a user-friendly platform that simplifies the process of setting up, managing, and cancelling recurring contributions and donations. This makes it easier than ever to support your favorite charities on a regular basis, ensuring they receive the consistent funding they need to continue their important work.
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.