A donor-advised fund (DAF), which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Strathmore and other charities.
How does it work?
You can establish your DAF by making an irrevocable, tax deductible donation to a community foundation or financial services company that sponsors a DAF program. From there, you recommend grants to the charities you support.
What do I receive in return?
You qualify for a federal income tax charitable deduction at the time you contribute to the account. You also have the power to make recommendations on which charities to support whenever you want allowing you to centralize your giving and record-keeping in one location.
Can I receive member or donor benefits with my gift?
The only permissible benefits that may be accepted with a gift through a donor advised fund are those that do not have a value for tax purposes.
The IRS has ruled that the costs cannot be separated, meaning the value of benefits cannot be paid for with a personal check. They call this practice bifurcation.
For memberships, Strathmore automatically waives benefits of value (i.e., member event invitations, valet, box tickets, etc.) on your behalf. Learn more about what incidental benefits you can enjoy on our membership page. Benefits with a ^ symbol will be excluded.
How can I make an even bigger impact?
Thanks to #HalfMyDAF your gift could go further with a matching grant!
With the recent surge in DAFs, over $160 billion sits unused. #HalfMyDAF was launched in May 2020 to inspire donors to move more money out of their Donor Advised Funds to nonprofits where the money could be put to good use. Since then, #HalfMyDAF has inspired over $26 million in giving from DAFs to nonprofits.
Meet Strathmore volunteers and donors Steve and Madeline D’Alessio, whose #HalfMyDAF application was selected for partial matching, increasing their sustained impact on the community through Strathmore’s important programs.
Stay tuned to #HalfMyDAF for dates and deadlines.
Important: This information is intended to provide general gift planning information. Please consult your legal, tax, or financial advisors before making a gift.