Donor-advised funds: They're all about making giving easier
A donor-advised fund offers the opportunity to create a low-cost, flexible method of charitable giving as an alternative to direct giving or creating a private foundation.
Donors enjoy administrative convenience, cost savings and tax advantages by conducting their grantmaking through the fund.
3 benefits of setting up your own fund
When you establish a donor-advised fund with the Community Foundation, you
- Have access to the expertise of the Community Foundation’s professional staff
- May add to your fund at any time and receive an immediate tax deduction
- Have the opportunity to give anonymously, if desired
Engaging the next generation
Donor-advised funds offer the option of allowing your children to participate as advisors during your life or to become advisors after your death. More people are choosing this option to include the next generation of family philanthropy, passing along the joy and values of charitable giving.
Raising the next generation of philanthropists
There are more than 85 groups of teenage philanthropists at work in Michigan, bettering their worlds through grants to support tutoring programs, healthy food initiatives and cultural opportunities for youth in their communities.
Called Youth Action Committees (YAC), these groups began when community foundations raised money for unrestricted endowment funds in the 1990s. Those funds were matched 50 percent by the W.K. Kellogg Foundation to establish youth funds. Each year, teens in local YACs make grants from their fund and, in the process, make decisions about how tens of thousands of dollars are distributed to youth-serving nonprofits throughout our community every year.
Marjai Kamara, a YAC member, is one such student.