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Saving Time and Taxes with a Donor-Advised Fund
There are two things you need to know about me: First, I don’t like to draw attention to myself, and second, I’m frugal. My wife Rachel used to say I was cheap. Well, when my beloved Rachel died a few years ago, I realized that I had more than enough to care for myself. Since God blessed me financially, I wanted to use some of my assets to honor the Lord and bless others.
I knew I had found the right solution when I learned how a Donor-Advised Fund (DAF) with In Touch Foundation could direct gifts to Christian ministries and help save money on my taxes. Without spending any money on complicated legal documents, I made a gift of appreciated stock to start a DAF with In Touch. I saved money on taxes by getting a charitable income tax deduction for the full market value of the stock and by not having to pay any capital gains taxes when the stock was sold by the DAF. Then, on my timetable, I recommend which Christian ministries are to receive distributions from the fund.
There have been occasions when I have wanted to make a charitable donation without letting anyone know that I was involved. The DAF allows gifts to be distributed anonymously. I really enjoyed being able to make a gift to my church from the In Touch DAF without my name being attached to it.
My year-end charitable giving is easier too because I just write one check or contribute more appreciated stock to my In Touch DAF, which provides me the full tax benefits of a charitable deduction for that year. Then I have time to prayerfully consider which Christian organizations should benefit from my gift. This simplifies my charitable giving and In Touch takes care of the administration. I think Rachel would have approved of the way I’m being frugal! (Fred, 75)
For more information on a Donor -Advised Fund, please fill in your information below, or call In Touch Foundation at 1-800-967-2200, or e-mail us at foundation@intouch.org. You may also click on the following web address www.intouch.planyourlegacy.org/GIFTdaf.php. Thank you.
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In Touch Foundation
3836 DeKalb Technology Parkway
Atlanta,GA 30340
800-967-2200 | Fax: 770-936-6396
Foundation@InTouch.org
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