If you're a donor reading this, you do not donate your assets to the 'the fund' in a 'charitable checking account.' You donate your assets to the bank, via their sponsoring organization (501c3) arm so you can receive a gift receipt for tax purposes. The transaction is irrevocable and acts very differently to a checking account. The donor has no legal standing to tell the bank how to invest the funds or the timing of when to sell assets, like large amounts of stock. Any FA reading this better have a smile of their face, because you know I'm right and this is the easiest customer in the world....
As a small, nonprofit that is unknown and new, do you believe DAF accounts help our 501c3 or not? What do you think is the best way to get our name on the short list of potential donations from people who have DAF accounts and family foundations? We don't use money for marketing, so everything is done by ourselves and volunteers. We haven't completed a year yet, so, as a result, we don't qualify for most grants that require extensive amount of paperwork, but our work does impact the lives that we reach out to. What or who do you suggest we go talk to in order to be considered a 501c3 worth donating to?
Does your foundation own the daf account
If you're a donor reading this, you do not donate your assets to the 'the fund' in a 'charitable checking account.' You donate your assets to the bank, via their sponsoring organization (501c3) arm so you can receive a gift receipt for tax purposes. The transaction is irrevocable and acts very differently to a checking account. The donor has no legal standing to tell the bank how to invest the funds or the timing of when to sell assets, like large amounts of stock. Any FA reading this better have a smile of their face, because you know I'm right and this is the easiest customer in the world....
As a small, nonprofit that is unknown and new, do you believe DAF accounts help our 501c3 or not? What do you think is the best way to get our name on the short list of potential donations from people who have DAF accounts and family foundations? We don't use money for marketing, so everything is done by ourselves and volunteers. We haven't completed a year yet, so, as a result, we don't qualify for most grants that require extensive amount of paperwork, but our work does impact the lives that we reach out to. What or who do you suggest we go talk to in order to be considered a 501c3 worth donating to?