Creating a Donor Advised Fund

A Donor Advised Fund (DAF) is an increasingly popular way to make a charitable gift. Creating a Donor Advised Fund at Community Foundation Tampa Bay can provide you with immediate tax benefits while making your charitable giving easier for years to come.

Using a DAF allows you to make your gift when it is most beneficial for tax planning purposes while delaying until later the decision as to which charities will  benefit from your gift.

How It Works

You set up your Donor Advised Fund (DAF) with a gift of cash, stocks, or other assets like real estate or closely-held business interests, with a value of at least $10,000. You’ll get an immediate income tax charitable deduction for your contribution that could reduce your taxes if you itemize.

You can add additional gifts to your DAF whenever you want. Assets in your DAF grow tax free.

Once established and funded, you can recommend grants to your favorite public charities from your Donor Advised Fund anytime; there are no annual grant distribution requirements. Our minimum grant amount is $100.

You do not get an additional income tax charitable deduction when the grants are distributed.

You can also create a succession plan in your DAF by naming children or others who will make grant recommendations when you are no longer able to do that. You can also recommend that some or all of the remaining assets in your fund at your passing be distributed outright to charities you name or be added to an endowment, scholarship, or field of interest fund at Community Foundation Tampa Bay.