A donor advised fund (DAF), which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to the Metropolitan Opera and other qualified charities. You can recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts.
You can also create a lasting legacy by naming the Metropolitan Opera the beneficiary of the entire account or a percentage of the fund. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to charitable organizations. Contact your fund administrator for a beneficiary form.
DAF Basics
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How It Works
Joe and Chris want to give back to their hometown by putting their money where it will do the most good. They establish a $50,000 donor advised fund with a community foundation.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Chris recommend grants for the Met (which they’ve supported for years) and a local animal shelter. The foundation presents the charities with checks from the Patricia Fund, which Joe and Chris named in honor of Chris’s mother. They name the Met as the beneficiary to receive the account balance after their lifetimes. Joe and Chris are delighted to start this personal legacy of giving.
