The Catholic Foundation Gets Rid of Donor Advised Fund Minimums

The Catholic Foundation is excited to announce that effective immediately, there will no longer be a minimum to open a Donor Advised Fund (DAF) with the Foundation. The Foundation’s previous minimum of $5,000 to create a DAF is being removed in an effort to allow anyone to create a fund in support of the charities they love. Often referred to as a “charitable checkbook”, a DAF allows a donor to make contributions into the fund, have the Foundation invest and manage the fund, and then allow the donor to direct the Foundation when and where to send money. Although there is no minimum to establish a new DAF, the Foundation still requires that any distribution out of a DAF be at least $50.

A Donor Advised Fund is a flexible and simple account that allows individuals or families to manage their philanthropy through one consolidated location. The Catholic Foundation provides professional investment and administration of the fund while allowing the donor to retain access to use the funds in support of charitable organizations both within the Diocese of Columbus as well as nationally.

Unlike other Foundation’s, The Catholic Foundation’s Donor Advised Funds are invested in accordance with Catholic teachings, ensuring that your fund does not conflict with our religious beliefs.  Similarly, any money distributed out of a DAF can only be sent to organizations that don’t conflict with Catholic teaching. This allows our donors to feel confident that their support is in alignment with our Faith.

Additionally, there are considerable tax advantages to having a DAF, which include an immediate charitable deduction for any contribution made to the fund as well as the ability to avoid capital gains taxes if contributing appreciated stock to the fund. A financial advisor can help you employ a DAF funding strategy that is both practical and tax efficient depending on your own personal circumstances.

If you are looking for an efficient, streamlined way to manage your charitable and philanthropic giving contact Scott Hartman at shartman@catholic-foundation.org or 614-443-8893 to find out how easy it is to establish your own Donor Advised Fund.