DAF: Your Amazing Charitable Savings Account

What if you could…

• Give yourself more time to be thoughtful about your giving?
• Harness the market to enhance your charitable donations?
• End the hassle of keeping a pile of donation receipts for tax purposes?

You can, with a donor advised fund—or DAF for short.

A DAF is like a charitable savings or investment account. You establish your fund with a DAF administrator using cash, appreciated securities or even complex assets like real estate or business interests. Many donors set up a DAF at their local community foundation or open an account online with a large financial services organization. If the University of Florida is one of the primary nonprofit organizations you support, consider setting up a DAF through the University of Florida Giving Fund.

After you fund your DAF, you can recommend one-time or ongoing grants from the fund to any qualified nonprofit organization, including the University of Florida.

The Benefits

1. You can take your time and make thoughtful grants to the causes you love most. You qualify for an income tax charitable deduction in the year you transfer money (or other assets) into the fund—regardless of when you recommend the grant. That means you can contribute money to your DAF and take the deduction this year, then take your time deciding where your grants will eventually go.
2. You will harness the potential of the market to grow your giving. Your DAF contributions are invested in the market, so there’s a good chance (but no guarantees, of course) that they will grow in value while in the fund. That’s extra money you can use to support places and causes you’re passionate about.
3. You won’t have to deal with all those receipts. You don’t have to track individual contributions, no matter if you fund one cause or 100 using your DAF. You will receive a single tax document each year, making record-keeping a breeze.

BONUS BENEFIT: You can also make the University of Florida the beneficiary of your DAF. That way, whatever is left in the fund after your lifetime goes toward our mission.

Discover the Power of DAFs

Whether you make your impact at the University of Florida today or after your lifetime, your gift matters. UF’s Estate & Gift Planning team can assist you with any questions regarding DAF giving. You can reach us at 352-392-5512 or giftplanning@uff.ufl.edu. To learn about other tax smart ways to make a gift visit giftplanning.uff.ufl.edu.

The UF Foundation (federal tax ID number 59-0974739) is a Florida nonprofit organization exempted from federal income tax as a 50l(c)(3) publicly supported charity. The UF Foundation does not provide legal, tax or financial advice. When considering planning matters, seek the advice of your own legal, tax or financial professionals.

Information contained herein was accurate at the time of publishing. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.