Donor Advised Funds (DAFs) are great tools for charitable giving in philanthropy today. You can make a gift and receive an income tax deduction for this year, but have the funds distributed to one or more charities over whatever time period you choose.
To Establish a DAF through the First Pres Foundation:
Make a gift to the Texas Presbyterian Foundation (TPF), Fund Manager for the First Pres Foundation. TPF also manages DAFs for First Pres givers. The suggested minimum to establish a DAF is $5000 in cash, marketable securities or other assets.
You will have access to your account with TPF, and you advise TPF how you would like the funds in your account to be distributed, at the time you choose, to ministries at First Pres and other qualified charities. You receive one receipt annually for income tax purposes.
You can add to your DAF at any time or spend it down. Federal law does not allow DAF distributions to be used to pay a pledge.
Contact Alison Murray for more information on Donor Advised Funds.