Donor advised funds are considered a very efficient charitable gift planning tool, available to anyone looking to make a major gift or create a legacy. Donor advised funds can be set up to function very much like a private foundation, without the costs, restrictions and administrative challenges of a private foundation.
As a donor you receive an immediate charitable tax receipt when the original and any subsequent donations are made to your donor advised funds.
(assuming combined tax savings credit of 50%)
John wishes to support several of our community organizations. John donates $100,000 to Citadel Foundation and designates the income on the capital to be donated to St. Brigid’s Home and the Literary and Historical Society. John immediately receives a tax receipt from Citadel Foundation for $100,000. The cost of John’s donation is $50,000, and Citadel Foundation donates the income from the $100,000 to St. Brigid’s and the Lit & His for perpetuity.