Ann Sheffer speaks at the launch of the Fund for a Creative IE
Learn from a Donor Advised Fundholder, Ann Sheffer
Ann Sheffer, former IECF board member, founder of the Fund for a Creative IE, and a generous donor at the Inland Empire Community Foundation, shares her experience with DAFs:
“I’ve always known about DAFs but didn’t think they were for me… and I wasn’t ready to make a bequest. I preferred to make contributions whenever I wanted to, which were then hard to account for at the end of the year.
But when I joined the board of IECF, I thought I should have a DAF, so I asked my investment advisor to deposit some appreciated securities in a DAF at IECF—which gave me an immediate tax deduction and a fund to spend. What I didn’t realize was that it also gave me a budget! I knew how much I could give during the year, and IECF kept track, so I could easily see how much I’d given to which organization. And I found it was easy to contribute to Field of Interest Funds, like the Fund for a Creative IE, which I helped establish.
At the beginning of each year, I added new securities to my DAF and got great satisfaction out of giving in a more effective way. So I urge you to consider starting a DAF, no matter what your current level of giving is—and you will find that it’s an easy and thoughtful way to give.”
Dezart Performs, an IECF grantee through the Sheffer/Scheffler Advised Fund
What is a Donor Advised Fund (DAF)?
Imagine having your very own personal philanthropy toolkit. That’s essentially what a Donor Advised Fund (DAF) is. It’s a charitable giving vehicle that allows you to make tax-deductible contributions and then recommend how those funds are distributed to charities of your choice.
How Does it Work?
- Contribute: You make a contribution to the DAF, either in cash, securities, or other assets.
- Invest: Your contribution is invested in a professionally managed portfolio.
- Recommend Grants: Over time, you can recommend grants to charities or nonprofit organizations that align with your philanthropic goals.
Benefits of a DAF:
- Tax Benefits: Contributions to a DAF are often tax-deductible.
- Flexibility: You have control over how and when your funds are distributed.
- Simplicity: Managing a DAF is easy, as the foundation handles the administrative tasks.
- Impact: You can support a wide range of causes and make a lasting difference in your community.
DAF grants support the Mizell Center senior lunch program.
Watch these videos to hear about DAFs from a Professional Advisor’s perspective. If you’re interested in learning more about Donor Advised Funds and how they can help you achieve your philanthropic goals, please contact Brie Griset Smith, CSPG or call 951-241-7777. We’re here to assist you in creating a DAF that aligns with your values and makes a meaningful impact on the community.