Daffy Charitable Fund is a fantastic option for a Donor-Advised Fund (DAF) as it accepts nearly any publicly traded stock. This is a great opportunity for investors who have seen a rise in their stock market investments this year and are considering giving back to charities in need.
Daffy makes the process of donating stocks simple and efficient. As a member, you can log into your Daffy account and select stock as a contribution option. You can then initiate a transfer from your brokerage. Once received, the stock will be liquidated and added to your fund balance, usually within 7-10 days.
Donating appreciated stock instead of cash allows more money to go to charity. This method also allows for a tax deduction and more time to decide on which organizations to support. If you're unsure which organizations you want to support just yet, you can invest the cash in one of Daffy's portfolios to grow tax-free for future donations.
Contributions to your Daffy fund are for the sole purpose of charitable giving. Once you contribute, you can take an immediate tax deduction. Rather than feeling pressure to donate your money right away, you'll have time to decide how to distribute the money once you're inspired to give. At the end of the year, you'll receive a single yearly tax receipt.
Daffy delivers all donations to charities in cash, so you can choose from any of the over 1.5 million charities on Daffy. This is a rare opportunity for you to benefit personally and maximize your generosity to charities.
Join the Daffy community today and make giving a habit. Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. For more specific tax advice, please consult with a tax professional.
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.