Donor Advised Funds
Think of a donor-advised fund as a charitable savings account that you establish with a sponsoring organization, such as a community foundation (like the Greater New Orleans Foundation or the Jewish Endowment Foundation of Louisiana) or the non-profit arm of a major commercial financial management company (like Fidelity or Charles Schwab).
You set up the fund with an initial tax-deductible gift of cash, appreciated securities, or other assets. You (or other family members) can donate more to the fund whenever you like, and you can recommend, usually annually, grants to WWNO and other non-profit organizations that you wish to support.
- Convenient, centralized giving and record-keeping.
- When desired, professional advice about community needs and local charities to support.
- You receive a tax deduction in the year of each gift to the fund.
- As with a private foundation, you can leave a named legacy to the community, but without a private foundation’s cost and management complexity.
- You have the opportunity to involve your children in the grant-making and instill a spirit of philanthropy at a young age. Many sponsoring organizations permit children to fill your role as grant advisor when you pass on.
Consult your financial advisor to learn whether a donor-advised fund is a good choice for you.
Ron Biava is pleased to answer general questions about donor-advised funds and how they help support New Orleans Public Radio. Contact him at WWNO (firstname.lastname@example.org, 504 280 7001).
WWNO has a history of generous support from donor-advised funds at two local foundations: the Greater New Orleans Foundation and the Jewish Endowment Foundation of Louisiana. You can find details about these donor-advised fund programs at their websites: