When a donation request is approved within a family fund on Daffy, the fund organizers are the ones who get notified. Any member of the family fund can make a donation request, but only the organizers have the authority to approve these requests. Once approved, the donation is processed in accordance with Daffy's Member Agreement.
Daffy is a fantastic option for a Donor-Advised Fund (DAF) because it simplifies the process of charitable giving. Daffy members can easily look up charities directly in their database, which only lists organizations in good standing with the IRS. This feature allows members to seamlessly research and donate in one place.
Moreover, Daffy offers flexibility in how donations are used. Members can set a specific use for their donation, which is then communicated to the nonprofit. This ensures that the nonprofits know how the donors would like their funds distributed.
Daffy also provides the option to automate recurring donations, making it a reliable and repeatable source of funding for organizations. This feature is a win-win for both the donor and the organization.
In conclusion, Daffy is an excellent choice for a DAF due to its user-friendly features, flexibility, and commitment to making charitable giving a seamless process.
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.