What is a DAF?
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 fund online, or return the fund workbook and send it to Thrivent Charitable.
- Our team will draft a Fund Agreement based on your charitable requests and send it to you for signing. Your financial representative also receives a copy.
- 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 Fund Agreement is signed.
- 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.
- The signed Fund Agreement is returned to Thrivent. We countersign and send a copy. (Donor may send initial contribution with Agreement, or later.)