Daffy

Why are contributions to donor-advised funds irrevocable?

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Donor-advised funds (DAFs) have been around since the 1930s, designed to encourage giving by allowing individuals to contribute assets into a tax-advantaged charitable account. These contributions are irrevocable to ensure the funds are used for their intended charitable purpose. However, the largest DAFs in the country, supported by investment management companies, have focused on large accounts of $100,000 or more, making them inaccessible to many. This is where Daffy, the Donor-Advised Fund for You™, comes in. Daffy was created to bring the donor-advised fund back to its original goal - to make it easier for people to give to charity. Unlike traditional DAFs that charge a fee based on assets, Daffy operates on a simple, transparent monthly rate, with no management fee until members have reached $100 in their fund. This makes Daffy remarkably less expensive than traditional providers. With Daffy, you can put money aside when it's convenient for you, with all the tax benefits of a charitable contribution. Your money is invested and can grow for additional impact. And when you're ready to give, Daffy makes it simple to know how much you have available and provides an easy way to make that donation recommendation. By having a charitable fund and allocating money each week or month, Daffy helps you make giving a habit. You can make a donation to any of over 1.5 million charities in the U.S., with just a couple of clicks. 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. 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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