Giving the Gift of Impact

Dear FFTC,

My granddaughter recently got married, and I’d like to give the newlyweds something meaningful for the holidays this year. They don’t need physical gifts since friends and family were generous with wedding gifts. I’m considering making a donation to charity in their names, but I’m not sure which nonprofits to support. Do you have any suggestions?

– Giving Grandmother

What a wonderful idea for a holiday gift! It sounds like you care about making a difference in your community, and it’s admirable that you want to pass down these values to your granddaughter.

If you’re not sure which nonprofits or causes they value most, you may want to consider giving the couple a donor advised fund. Through a donor advised fund, your granddaughter and her spouse will have a pool of dollars they can use to easily give to their favorite charities – 24/7, online and to any qualified public charity they choose.

What is a donor advised fund?

A donor advised fund is a streamlined, cost-effective, charitable investment account established with a sponsoring organization, such as Foundation For The Carolinas. You can contribute cash, appreciated securities, closely held business interests or other assets to the fund (and can take an immediate public charity tax donation).

This contribution will remain in the fund until the couple is ready to recommend grants, and the balance is invested – allowing it to grow tax-free. And we handle all the administrative work, so they can focus on the joy of giving.

How to gift an FFTC Donor Advised Fund

You can give an FFTC Donor Advised Fund as a gift by establishing a fund and naming your granddaughter and her spouse as fund advisors. Then, they can recommend grants whenever they choose to the nonprofits that matter the most to them.

Going forward, you can continue to replenish their fund if you’d like, and they also can contribute their own assets.

How FFTC can help

FFTC’s team of experts can help you establish a DAF as a meaningful, long-lasting gift. We can walk you through the process and will ensure the gift is kept a surprise from the recipient. Contact today to learn how you can spread the joy of giving this holiday season.

Olivia Horton is Assistant Vice President, Center for Personal Philanthropy. She works with individuals and families to make their charitable giving impactful and easy.