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The donor-advised fund (DAF) is becoming an increasingly popular way to make a charitable gift. DAFs can provide you with immediate tax benefits while making your charitable giving easier. Here are two simple ways you can make a gift through your DAF:
You can select the option that best suits your philanthropic and financial goals to support the Tabor Academy. Just contact your fund administrator to request a distribution or beneficiary form or download the appropriate form(s) from your administrator’s website.
If you include Tabor Academy in your plans, please let us know and use our legal name and federal tax ID.
Legal Name: Tabor Academy
Address: 66 Spring Street, Marion, MA 02738
Federal Tax ID Number: 04-2103636
Creating a donor-advised fund can provide you with immediate tax benefits while making your charitable giving easier for years to come.
How it works
You establish a fund at a sponsoring charity. This could be a community foundation, a public charity with a donor-advised fund program, or even one of the well-known investment companies that sponsor donor-advised funds. First, check with the fund sponsor about the minimum contribution to start a fund as it ranges from $5,000 to $25,000. Then, make an initial contribution to start your fund of cash or appreciated assets such as stocks or mutual funds. You’ll get an immediate income tax deduction and some sponsors will even let you name your fund.
Once established, you can suggest that your favorite public charities, such as Tabor Academy, receive grants from your fund. The grants can be relatively modest or larger for projects such as a capital campaign or a new building.
You do not get an additional tax deduction for these grants. You can also suggest which charities you want to have any remaining assets in your fund at your passing. Tabor Academy is grateful for gifts that come from donor-advised funds.
If you are considering establishing a donor-advised fund we can suggest several fund sponsors for your review. You should also consult your professional advisor for their guidance.