Simplify Your Giving With a Donor Advised Fund
Your financial and charitable goals are a reflection of your commitment to support the future of your loved ones and your valued charitable organizations, such as Memorial Sloan Kettering Cancer Center (MSK) and community-based groups. But it can be difficult to keep track of the organizations you wish to support—and the required paperwork that documents your benefits from charitable gifts. A convenient and easy way to organize your philanthropic intentions is to create a donor-advised fund.
Here’s how it works:
- You open a donor-advised fund with a written agreement between you and a community foundation or sponsoring organization.
- You can make contributions to your fund at any time. These contributions are invested by the sponsoring organization, which provides you with regular financial statements.
- Over time, you recommend the charitable gift amounts and your favored receiving organizations, such as MSK.
- You can also turn your donor-advised fund into a lasting legacy at MSK by naming us as a beneficiary of your account.
When choosing your donor-advised fund sponsoring organization, decide carefully. You'll want a sponsor that supports your values. Take time to carefully read its policies and procedures and review administrative or investment fees.
How You Benefit From a Donor Advised Fund
- You qualify for a federal-income-tax charitable deduction when you make a gift to the fund.
- You do not have to retain records for each contribution.
- Families can build a tradition of giving by including children in decisions about grant recommendations.
If you would like more information on how to set up a donor-advised fund that can support MSK, please contact the Office of Planned Giving at 800-688-1827 or firstname.lastname@example.org.