The end of the calendar year means a busy season for charitable giving. The Hastings Community Foundation has tools and services to help you reach your year-end philanthropic goals. The most popular tool offered by the HCF is a donor advised fund (DAF).

You can think of DAFs as a sort of philanthropic investment account. A DAF is established with an initial contribution, the full amount of which may be eligible for an immediate charitable tax benefit. The fund grows with investment earnings (and any additional contributions you make).

Distributions from the fund to nonprofits are made in amounts and on timelines that you suggest, meaning you can make distributions from your fund to your favorite nonprofits as often as you wish simply by contacting us.

Time and time again, our donor advised fund holders tell us that they appreciate these benefits:

Immediate Tax Deduction: When a donor contributes to a DAF, they receive an immediate tax deduction, even if the actual donations to charities are made over time. This can reduce their taxable income for that year, helping with tax planning.

Flexibility in Giving: Donors can take their time deciding which charities to support. They can contribute assets to the DAF now and grant them to charities later, allowing them to be more thoughtful or strategic in their philanthropy.Investment Growth: The assets in a DAF are invested, and any growth in value is tax-free. This means that over time, the funds available for charitable giving can potentially increase.
Simplified Recordkeeping: Donors don’t have to keep track of receipts from multiple charities for tax purposes. They receive one tax receipt at the time of the contribution to the DAF, streamlining paperwork.
Privacy and Anonymity: Donors can choose to make their grants to charities anonymously, protecting their privacy if they wish to keep their donations discreet.
Donor Advised Funds with the HCF can be established easily using cash or transfer of securities. Contact us to get started on the process today!