Donor Advised Funds
A Donor Advised Fund is like a personal account you keep at the Foundation, with the sole purpose of using it to make charitable contributions to organizations you are passionate about. The money you contribute to your fund becomes an immediate tax deduction. Then, you recommend grants to charities of your choice as quickly or slowly as you desire. The Foundation will confirm that the nonprofits you recommend are eligible to receive a grant (pursuant to current IRS rules), write the checks and handle the paperwork. While the recommendations cannot be binding (pursuant to IRS rules, our board must approve), we strongly consider your recommendations.
How a Donor Advised Fund Works
Give
A donor selects the Foundation as their sponsoring organization to create a Donor Advised Fund. Money and assets are put into the fund and the donor receives immediate tax benefits.
Grow
Your Donor Advised Fund grows tax free.
Designate
When you’re ready, you recommend grants from your Donor Advised Fund to eligible 501c3 charities.
You can create a family legacy by naming advisors who may join and/or succeed you in making grant recommendations
Some benefits of a Donor-advised fund include:
- An immediate tax deduction without having to make decisions right away about which charities to support
- The ability to donate non-cash assets such as appreciated stock and real estate
- The Foundation’s services including professional grantmaking, accounting, and investment staff
- The opportunity to be a part of the Foundation’s community of philanthropy
- An easy way to create an endowed fund and become part of the Foundation’s Legacy Society
How to get started:
- Download a copy of the DAF Agreement
- Review and complete the agreement and mail it to: Foundation for Jewish Philanthropies, 2640 N. Forest Rd., Getzville, NY 14068
- If you prefer, you can email the agreement to Irv Levy Irv@JewishPhilanthropies.org
How will my fund be managed and how much will it cost?
Accounts with a lowest daily value during the year of under $25,000
Your account will be invested in the Foundation’s Balanced Investment Pool and will not be subject to market value fluctuations (calculated without regard to income, gains and losses.) As you select the charities of your choice, your account will have a liquidity value equal to the total of what you have donated, minus the grant distributions you have requested and a modest $62.50 quarterly fee, which will be used to support the Foundation’s efforts to serve our community and make the world a better place for all.
Annual Fee Schedule**
Donor Advised Philanthropic Fund fees assessed by the Foundation assist us in carrying out our charitable mission and cover administrative costs associated with your Fund.
Fees will be charged on a quarterly basis at the greater of:
Net Account Earnings or, $250 /annually
Accounts with a lowest daily value during the year of over $25,000
Your account will be invested in the Foundation’s Balanced Investment Pool* and will have a liquidity value reflective of market value, including credited interest and dividends, and subject to market fluctuations. There will be a modest 0.25% quarterly fee, which will be used to support the Foundation’s efforts to serve our community and make the world a better place for all. Accounts over $500,000 are eligible for reduced fees.
ANNUAL FEE SCHEDULE**
Donor Advised Philanthropic Fund fees assessed by the Foundation assist us in carrying out our charitable mission and cover administrative costs associated with your Fund.
25% of the annual fee will be charged on a quarterly basis at the greater of:
- 1% of total fund assets for the first $500,000
- 0.8% of total fund assets for the next $3.5 Million
- 0.5% of total fund assets for the next $2 Million
- 0.3% of total fund assets for the next $4 Million
- 0.15% of total fund assets for amounts over $10 Million
- Minimum annual fee $250
*Legacy Funds (or funds meeting other criteria specified by the Foundation) may be eligible for individualized investment programs.
** Fees are subject to change upon 90 days written notice
The Foundation for Jewish Philanthropies would be honored to assist you and your family in preserving your legacy.
Irving H. Levy, Executive Director
(716) 204-1139 • 716-390-9653 • Irv@jewishphilanthropies.org
The Foundation for Jewish Philanthropies does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. The Foundation makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.