New Donor Advised Funds Provide Immediate Tax Deduction for Donors

A Donor Advised Fund (DAF) is a vehicle that allows donors to make a charitable contribution, receive an immediate tax deduction and recommend grants from the fund over time. The fund grows tax free, and donors can contribute to the fund as frequently as they like, then recommend grants to be distributed to their favorite charitable organization whenever it makes sense for them. The Kent State University Foundation (KSUF) is now working with the Columbus Foundation to make these funds available through Kent State. 

After the donor submits the funds required to set up a DAF ($10,000 minimum), they will be provided with the necessary IRS tax documentation. After the fund is established, the donor will have access to a website to view the account’s balance and initiate grants. KSUF requires that at least 50 percent of the grants benefit the university to participate in this program.

If you or your financial advisor would like more information, or if you would like to set up a DAF, please reach out to Jessica Vargo at jvargo6@kent.edu.