{"id":280,"date":"2020-07-08T15:36:17","date_gmt":"2020-07-08T15:36:17","guid":{"rendered":"https:\/\/www.ncfgiving.com\/newyork\/?page_id=280"},"modified":"2022-10-10T17:37:22","modified_gmt":"2022-10-10T17:37:22","slug":"im-not-a-millionaire-why-do-i-need-a-donor-advised-fund","status":"publish","type":"page","link":"https:\/\/www.ncfgiving.com\/newyork\/im-not-a-millionaire-why-do-i-need-a-donor-advised-fund\/","title":{"rendered":"I\u2019m not a millionaire: Why do I need a donor-advised fund?"},"content":{"rendered":"\n<p><em>By Mike O\u2019Neill<\/em><\/p>\n\n\n\n<p>I love gadgets, specifically kitchen gadgets. I love finding the perfect tool for the right job. I like Martha Stewart because she\u2019s legendary for producing a gadget for every conceivable need, and she\u2019s pretty good at it.<\/p>\n\n\n\n<p>I\u2019m not a millionaire like Martha, but I like having the tools I need for the job. One tool I won\u2019t give up is one I use for my giving \u2013 my donor-advised-fund (DAF). It makes generosity easier \u2026 and more rewarding. It\u2019s the perfect tool for my giving. It works for millionaires, yes, but it works for my giving too.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">So, what is a DAF?&nbsp;<\/h3>\n\n\n\n<p>A DAF is an account used by an individual, family, or business to manage charitable giving. Just as a savings account manages one\u2019s savings, or a checking account manages day-to-day bills, a DAF enables givers to manage their charitable giving.<\/p>\n\n\n\n<p>And you don\u2019t need to be a millionaire to consider it the perfect tool.<\/p>\n\n\n\n<p>Recently, a medical professional called me because she wanted to support a charitable project anonymously, but she was clearly hesitant. After a moment or two there it was, \u201cyou know, I\u2019m not a millionaire, is this even right for me?\u201d&nbsp; The answer was \u201cyes!\u201d&nbsp;Having a DAF enabled her to fund a project, her church, two missionaries, and several Christian charities she loves.<\/p>\n\n\n\n<p>What convinced her?&nbsp;<\/p>\n\n\n\n<p><strong>The benefits:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Manage all your giving from one account on a smartphone or other device and track when, how much, and who you\u2019ve granted to. Imagine needing only one tax receipt at tax time!&nbsp;<\/li><li>Unspent balances can be invested in one of our investment pools, so the DAF has the potential to grow in value.<\/li><li>Grants can be made anonymously.<\/li><li>Setting up recurring gifts to your church and favorite charities, and even building up a balance for special or emergency appeals is easy.<\/li><li>You have the ability to be more strategic in the area of generosity.<\/li><li>You can set aside funds from a bonus or one-time event \u2013 such as a home sale \u2013 that allows you time to prayerfully consider what you should support.<\/li><\/ul>\n\n\n\n<p><strong>Uses<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Support virtually any approved charity (Read our&nbsp;<em><a href=\"https:\/\/www.ncfgiving.com\/guide\">Guide to NCF\u2019s Giving Solutions<\/a><\/em>&nbsp;for more information about recommending grants to charities.)<\/li><li>Introduce others to the joy of biblical generosity<\/li><\/ul>\n\n\n\n<p><strong>Funding<\/strong>:<\/p>\n\n\n\n<p>This is where a DAF really shines. There are so many ways to fund a DAF you may be surprised:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Regular monthly income<\/li><li>Annual bonus<\/li><li>Inheritance<\/li><li>Stocks and securities<\/li><li>Real estate<\/li><li>The list does go on, but some people start to glaze over at private equity, hedge funds, sale of a business, or intellectual property, mineral rights, crops, life insurance, etc.<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">The gift of giving<\/h3>\n\n\n\n<p>Perhaps you\u2019ve been considering a DAF for some time?&nbsp;Or have hesitated recommending yours to a friend, child, or family member who may think a DAF is only for the rich?&nbsp;Might they benefit from \u201cthe perfect tool\u201d to manage and grow their generosity?&nbsp; Something that helps making giving fun again, and not an administrative chore?&nbsp;A tool that allows them to manage their current, future and emergency giving all from a smartphone?<\/p>\n\n\n\n<p>Maybe it\u2019s time to explore a DAF or share with someone you know about how yours helps you give.<a><\/a><a><\/a><a><\/a><a><\/a><a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mike O\u2019Neill I love gadgets, specifically kitchen gadgets. I love finding the perfect tool for the right job. I like Martha Stewart because she\u2019s legendary for producing a gadget for every conceivable need, and she\u2019s pretty good at it. I\u2019m not a millionaire like Martha, but I like having the tools I need for [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":284,"parent":0,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-280","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/pages\/280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/comments?post=280"}],"version-history":[{"count":5,"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/pages\/280\/revisions"}],"predecessor-version":[{"id":318,"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/pages\/280\/revisions\/318"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/media\/284"}],"wp:attachment":[{"href":"https:\/\/www.ncfgiving.com\/newyork\/wp-json\/wp\/v2\/media?parent=280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}