A charitable giving plan is a key component of your holistic financial strategy. Often referred to as a charitable checking account, a donor-advised fund (DAF) provides you with the giving flexibility you need to provide support to the organizations and causes closest to your heart.
How it works
- Give - You make a charitable gift to create your fund and may receive tax benefits.
- Grow - Your fund assets grow over time through investment and sound stewardship.
- Grant - You make grants to your favorite organizations and causes.
- Clients seeking a potential charitable tax deduction and flexibility to direct giving to a variety of charities over time;
- Individuals and families seeking an affordable alternative to private family foundations;
- Clients wishing to promote family philanthropy, with an opportunity to name successor advisors such as children, grandchildren, siblings, or friends (Upon the death of living advisors, donors can name specific charities or causes to continue receiving grants in perpetuity.); and
- Individuals/families who already have private foundations and want to reduce the administrative burdens.
How to create a charitable fund
Create a fundthrough an online form or completing a fund workbook.
- Our team will establish your fund based on your charitable intentions and send a confirmation along with information on how to access your fund and begin making grants.
- Your financial representative, if indicated, will also receive a confirmation.
- For gifts of stock, include copies of either the stock certificates or the most recent brokerage statement. We will contact you with specific instructions on how to transfer the stock
- For gifts of cash, do not send a check now. You may send it after we have confirmed your fund has been established.
- Charitable funds can also be established with gift assets that occur upon death, such as gifts made through your will or living trust, life insurance, and/or beneficiary proceeds.
Donors must itemize deductions to receive a charitable income tax deduction. Charitable giving can result in tax, legal and financial consequences. Thrivent Charitable Impact & Investing™ does not provide legal, accounting or tax advice. Consult your attorney or tax professional.