A donor advised fund (DAF) is an account that is maintained and operated by a section 501(c)(3) organization, called the sponsoring organization.
Each DAF account is composed of contributions made by an individual donor. Once the donor makes the contribution, the sponsoring organization has legal control over the funds. However, the donor retains advisory privileges with assets in the account. At any time afterward, the donor and their advisor can recommend grants from the account to qualified charities.
The benefit to the donor is that you qualify for a federal income tax charitable deduction at the time you contribute to the DAF account, and you can then make recommendations on which charities to support whenever you want over any period of time. In this way, you also centralize your giving and record-keeping in one location. And maybe best of all, you can start a legacy of giving by recommending grants to your favorite organizations, like Stray Cat Alliance!
How to get started with a DAF to Stray Cat Alliance:
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