A donor-advised fund (DAF) is a type of giving program that allows you to combine the most favorable tax benefits with the flexibility to easily support your favorite charities. An increasingly popular charitable vehicle, DAF’s are an excellent way to both simplify your charitable giving and facilitate your strategic philanthropic goals.
How does a DAF work?
Establish your DAF by making an irrevocable, tax-deductible donation to a public charity that sponsors a DAF program. Advise the investment allocation of the donated assets (any investment growth is tax-free). Recommend grants to qualified public charities of your choice.
If I have a DAF, how do I use it to support Fred's Team?
If your DAF is with Fidelity Charitable, Greater Kansas City CF, Schwab Charitable, or BNY Mellon, you can start your donation on the Fred's Team website as follows:
- Select the public charity that sponsors your DAF from the DAF Direct dropdown menu.
- Enter the amount (in USD) you would like to recommend in the “Amount” field.
- 1. In the “Designation” field enter Fred's Team and the name of the participant or team you are supporting. (This is important! Your gift may not be credited properly without this information.)
- Click the “Next” button to proceed to the sponsoring organization’s website to complete your DAF transaction.
- 1. Once the sponsoring organization approves the recommended disbursement, the grant is made to the qualified charitable organization (i.e., MSK: Fred's Team). Participant and team fundraising pages will not be credited by Fred's Team until receipt of the check.
Please note: If your DAF is with a different entity, you may process your donation through their usual method—just be sure to designate to Fred's Team and include the name of the participant or team you are supporting.
Whom should I contact with questions?
If you have questions about making a gift to Fred's Team through a DAF, please email fredsteam@mskcc.org or call us at 646.227.3885.