Legacy Building Articles
The Wycliffe Foundation Donor-Advised Fund
The Wycliffe Foundation Donor-Advised Fund
A donor-advised fund (DAF) is a charitable-giving tool that allows you to make an irrevocable, tax-deductible contribution to Wycliffe Foundation and, at any time afterwards, recommend grant distributions to Wycliffe and other qualified organizations out of that fund.
It’s easy to establish a DAF with Wycliffe Foundation. Here’s what it looks like:
- Complete a simple application
- Make an irrevocable, tax-deductible contribution to Wycliffe Foundation
- Wycliffe Foundation liquidates the assets and invests the proceeds
- You advise Wycliffe Foundation regarding the grant recipients
- Wycliffe Foundation completes due diligence and disperses the grant funds
Benefits of a DAF:
- It’s simpler than creating a private foundation and has no start-up costs.
- You can create one using cash or a variety of non-cash assets such as marketable securities, stocks, bonds, treasuries, certificates of deposit, business interests, or real estate.
- You can maximize your tax savings immediately and offset your current income by claiming the full charitable deduction for the fair market value of your gift. This deduction may be claimed in the year of the gift, whether or not you distribute those funds that year or not.
- The fund may be named as a testamentary beneficiary of your tax-deferred assets, thereby eliminating some future tax liability.
- Make recommendations for meeting philanthropic needs as they arise.
- The plan may be invested for growth and permits you to advise making periodic gifts of either income only or income and principal. Your children may be named as successor advisors— hereby, creating a legacy of giving.
Contact Wycliffe Foundation at 877-493-3600 for more information or to schedule a personal consultation with one of our gift-planning advisors.
