|
| . |
You're considering a lifetime gift in partnership with us > You currently make outright gifts to several Baptist and Christian causes > You want to stay involved in the work of the causes you benefit > You admire the investment management ability of the Foundation
|
Kentucky Baptist Foundation will work with you to set up one convenient gift account that can make distributions to multiple Baptist and Christian causes. Operating somewhat like a private foundation, a Donor Advised Fund (DAF) gives you the security of skilled financial management as well as the flexibility and control of guiding your gifts to the Baptist and Christian causes you are most involved with each year.
The grantmaking procedure is simple, and your DAF offers you complete deductibility of the contributions you make to it plus full documentation of all distributions it makes on your behalf.
In addition, because you can involve your family in deciding which causes your DAF will benefit, you may find that it offers a great opportunity to instill and nurture in the future generations a commitment to supporting the mission of God through Baptist causes.
How a Donor Advised Fund Works
You make a minimum gift of $5,000 -- additional contributions can be made at any time. Each year, a percentage of the value of the DAF, determined by our financial management policies, is available for grants to Baptist and Christian causes. You recommend the recipients of grants to be made from this distribution account. We review your recommendations, and, if we approve them, make distributions, identifying the grants as coming from your DAF. (Placing the ultimate grantmaking authority in our hands ensures that your gift establishing your DAF is deductible in the eyes of the IRS.)
Annual distributions of $250 or more can be made from your DAF. We will not approve a recommended grant that benefits you, your family, or an advisor; that goes to a private foundation or supports political activities; or that is to be used for any purpose not wholly charitable or not consistent with Kentucky Baptist Convention causes.
DAF vs. Private Foundation
A DAF offers many of the features of a private foundation, without a foundation's administrative costs and complexities. Gifts to a Donor Advised Fund are treated as gifts to a public charity, entitling you to the public charity deduction limitations---50% of adjusted gross income for gifts of cash and 30% for gifts of long-term capital gain assets. Gifts to a private foundation are subject to greater limitations: you may deduct cash gifts up to 30% of adjusted gross income, and gifts long-term capital gain assets up to only 20% of a.g.i. A DAF also lets you avoid the legal and accounting fees and record-keeping expenses of a private foundation, as well as the foundation's minimum distribution requirements.
To find out more about a Donor Advised Fund Email
us, complete the personal illustration
form, or call us at 440-775-8599 so that we can assist you through
every step of the process.
Back to Top
|
