FACT SHEET ON DONOR-ADVISED FUNDS
WHAT IS IT? Fundholder Login
- A Donor-Advised Fund is like a checking account for your charitable giving within The Foundation of the Greater Miami Jewish Federation.
- It is established with a gift of assets (cash or appreciated assets such as stock) at a minimum of $5,000.
- More than 200 individuals and families in Miami have funds with The Foundation.
- These funds range in size $5,000 to over $90 million. The Foundation has over $500 million in total assets.
WHAT CAN THE FUND DO FOR YOU?
- Use the fund to recommend gifts of $100 or more to qualified public charities (Jewish or non-Jewish), designated as 501(c)(3) organizations under the Internal Revenue Tax Code (like Federation, your synagogue, university, hospital, etc.).
- Earn tax-free investment income which, along with the principal, is available for distributions.
- Share and pass on Jewish values to the people most important to you. Involve your family in philanthropy or honor the memory of a loved one.
- Provide privacy regarding your philanthropic choices.
- Handles the distribution of funds to those organizations you recommend and all of the record keeping.
- Invests the assets of the fund. You have a choice of fixed income or blended equity-fixed strategy.
- Provides a quarterly summary of transactions to you. You will have instant access to your fund account through an on-line secure system, enabling you to view your fund activity and make charitable recommendations with the touch of a button.
WHAT ARE THE TAX ADVANTAGES FOR CREATING A FUND?
- Charitable income tax deduction for the full fair market value of assets contributed.
- Capital gains tax savings on the appreciation of securities held for more than 1 year.
- The allowable tax deductions for a donor-advised fund are greater than those for a private foundation.
- Investment income is added to your fund and grows tax-free.
The Foundation charges an administrative fee of 1%, which is calculated monthly at 1/12 of 1%, to a maximum of $15,000 per year.
If you would like to make a current gift via credit card into your donor-advised fund OR any other fund at the Foundation, click here
For over fifty years, The Foundation of the Greater Miami Jewish Federation has been a trusted philanthropic partner in the Jewish community, with a proven track record of working effectively with donors and their professional advisors in meeting their charitable goals. For more information, please contact Scott Kaplan, Foundation Director, at [email protected] or 786.866.8623 (office) or 757-746-2466 (cell).
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