A tool for combining charitable giving with financial goals
A tool for combining charitable giving with financial goals
by Morgan du Plessix
What if you could support all of your favorite charities while growing your philanthropic dollars tax-free? A donor-advised fund, or DAF, is a charitable giving vehicle that can help you to do just that by reducing your tax burden while helping you plan for future generations.
DAFs are the fastest-growing charitable giving product on the market, with contributions totaling an all-time high of $85.53 billion in 2022. Relationship manager Morgan du Plessix dives into the rapidly expanding world of DAFs in this episode of “The Ethic Playbook.”
While simply donating is always a great option for charitable giving, DAFs offer a few key differentiating features:
- They allow investors to divvy up their charitable contributions to multiple worthy causes, not just one.
- DAF contributions are eligible for a current-year tax deduction and non-cash assets can be gifted without incurring capital gains taxes, allowing all of the proceeds to be given to the charities the investors are passionate about.
- DAFs are not subject to estate laws, which means that future generations may use that vehicle to continue the tradition of giving.
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Contact your relationship manager to learn more about partnering with Ethic to help your clients achieve both their charitable giving and financial goals.
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