Donor Advised Funds (DAF) are the fastest-growing tools for philanthropic giving. The Palm Beach County Food Bank wants to make it easy to give with this DAF Direct option. Unlike credit card donations, DAF grants are not subject to a processing fee, so 100% of your grant goes to the Palm Beach County Food Bank. You can designate your giving where it is needed most, or any of one of our programs.

To use a DAF, you will need the following information:

Palm Beach County Food Bank, Lantana, Florida

EIN 90-0788707

 

Please Ellen Vaughan, Director of Development and Philanthropy at ellen@pbcfoodbank.org or 561-670-2518 x310

What is a Donor Advised Fund?

A Donor Advised Fund is a charitable giving vehicle sponsored by a public charity (called the sponsoring organization). Examples of where you can establish a Donor Advised Fund include community foundations, Schwab Charitable, Fidelity Charitable services and Vanguard Charitable.

  • You establish your Donor Advised Fund by making an irrevocable, tax-deductible contribution to a sponsoring organization. 
  • You surrender legal ownership of the monies in the fund, but retain advisory privileges. 
  • The sponsoring organization then makes grants from the DAF over time to IRS-qualified not for profit organizations like Palm Beach Atlantic University. 
  • Your donation is also invested based on your preferences, so it has the potential to grow, tax-free, while you’re deciding which charities to support.

What are the Benefits of a Donor Advised Fund?

  • You are eligible for an immediate tax deduction.
  • It simplifies record-keeping; you only have one tax receipt.
  • You advise the sponsoring organization on how to grant the money to your favorite nonprofits.
  • Your donation is invested, so it has the potential to grow, tax-free, while you decide which nonprofits to support.
  • Contributing assets other than cash is simple with a Donor Advised Fund. Assets you can contribute include publicly traded securities, mutual fund shares, bitcoin, private equity and hedge fund interests, real estate, certain complex assets, such as privately held C-corp and S-corp shares.