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FAQs for Donor-Advised Funds (DAF) Gifts
- What is a Donor-Advised Fund (DAF)?
- A Donor-Advised Fund is a charitable giving account that allows donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants to nonprofit organizations over time.
- How do I make a gift to your organization through my DAF?
- To make a gift, simply recommend a grant to our organization through your DAF provider. You will need to provide our organization’s legal name and tax identification number.
- What information do I need to provide to my DAF provider?
- You typically need to provide the nonprofit’s legal name, tax ID number (EIN), and address. Our organization’s details are:
- Legal Name: Archdiocese of New York
- DBA Cardinal’s Annual Stewardship Appeal.
- Tax ID (EIN): 13-3089351
- Address: 488 Madison Avenue, 3rd Floor, New York, NY 10022
- Can I use my DAF to fulfill a pledge or make a recurring gift?
- DAFs cannot legally be used to fulfill a personal pledge. However, you can recommend a recurring grant to be made to our organization from your DAF without referring to it as a pledge.
- Are there restrictions on the types of donations I can recommend from my DAF?
- Yes, DAFs cannot be used to purchase tickets to events, make a donation where you receive something in return (e.g., auction items), or to fulfill personal pledges. Always consult your DAF provider for specific guidelines.
- Will I receive a tax receipt for my DAF gift?
- No, you will not receive a tax receipt from our organization for a DAF gift. The tax deduction was received when you made the contribution to your DAF.
- How can I notify your organization of my DAF grant recommendation?
- After recommending a grant, you can notify us by email cardinals.appeal@archny.org or phone 646-794-3300 to ensure we know to expect the gift and how it should be applied. Please include any special instructions for your gift.
- Can I remain anonymous when giving through my DAF?
- Yes, most DAF providers allow you to recommend grants anonymously. However, we encourage you to share your name and contact information so we can thank you and keep you informed about the impact of your gift.
- What are the benefits of giving through a DAF?
- Benefits include immediate tax deductions, the ability to grow funds tax-free, flexibility in grant timing, and ease of administration.
- Can I designate my DAF gift to a specific program or fund?
- Yes, you can specify how you’d like your DAF gift to be used. Please include these instructions when recommending the grant, and we will do our best to honor your request.
- What happens if my recommended grant is not approved by my DAF provider?
- If a grant recommendation is not approved, the DAF provider will notify you. You can then choose to recommend a grant to another organization or discuss alternative options with your DAF provider.
- Can I combine a DAF gift with another type of donation?
- Yes, you can combine a DAF gift with other types of donations, such as a personal check or stock transfer. However, you will receive separate tax receipts for personal contributions and DAF gifts.
