September 20, 2021
FROM THE ELCA FOUNDATION "insights" e-news:
Often referred to as “charitable checkbooks,” donor-advised funds are charitable accounts established by donors with current gifts to provide future support to ministries. These accounts are opened and funded by a donor who then advises distributions to charity over time.
Many donors find value in the flexibility a donor-advised fund provides. These are typically donors who are confident in their charitable intent but uncertain of their charitable plans. They know how much they want to give but aren’t sure who they want to give it to or when those gifts should be made. Establishing a donor-advised fund allows them to make a large gift with an immediate tax deduction but hold off on deciding how to distribute it to charity.
Donor-advised funds can also be a great tool to facilitate family generosity. Anyone can contribute to a donor-advised fund once it is established, and the fund can have multiple, and successive, advisers. Families and groups can use donor-advised funds to pool their contributions for larger gifts to charities. The fund can also teach generosity to other family members as the family decides together how much to distribute and where the money should go.
The ELCA Foundation is here to support your generosity and help you ensure that its impact is felt for years to come. Learn more about our socially responsible donor-advised fund option — designed specifically for ELCA members — or contact Rev. Ana Lugo to discover how a donor-advised fund may help you achieve your charitable-giving goals.