Happy New Year from the Bartlesville Community Foundation! We are looking forward to our twenty-first year of helping people realize their charitable goals. One of the most popular ways to do that is through a donor-advised fund. During the last decade, donor-advised funds (DAFs) experienced tremendous growth. The number of individual DAFs, total grant dollars to charitable organizations from DAFs, and total charitable assets in DAFs all saw significant increases. In fact, donor-advised funds continue to be the fastest-growing charitable giving vehicle in the United States because they are one of the easiest, most effective, and most tax-advantageous ways to give to charity.
What is a donor-advised fund?
A donor-advised fund is like a personal charitable savings account for the sole purpose of supporting charitable organizations that you care about. When you contribute to a donor-advised fund at the Bartlesville Community Foundation you are eligible for an immediate tax deduction. Then those funds can be invested for tax-free growth and you can recommend grants to virtually any IRS-qualified public charity.
A donor-advised fund is also a terrific alternative to starting a private family foundation. In addition to tax benefits, setting up a fund through the Bartlesville Community Foundation has an extremely short turn-around time. Additionally, our staff is available to help with grants, screen grant requests, and take care of auditing and financial reporting requirements. Many of our donors are also pleased by the fact that unlike private family foundation funds, donor-advised funds at the BCF don’t have annual spending requirements. The BCF is able to combine the tax advantages of a public charity with the lasting quality of a private foundation.
BCF donors are people with a strong sense of community and personal commitment to the Bartlesville community. Some donors want to support worthwhile causes of special interest to them and the BCF helps find the best way to donate their charitable dollars. Other donors appreciate the flexibility and ease of using the BCF. Because the legal apparatus is already in place, funds can be established in a very short time while obtaining the greatest possible tax advantages.
The Bartlesville Community Foundation understands that donors today want to stay close to their giving and they it want it to be easy. A donor-advised fund at the BCF achieves both.
As we begin 2020, the BCF is prepared to help you accomplish your immediate and future charitable goals.
Laura Jensen is the Director of Operations for the Bartlesville Community Foundation. She can be reached at 918-337-2287 or at laura@bartlesvillecf.org
