Donor Advised Fund (DAF)
B&B Group Bank can help make sure that the donor advised funds are as simple and rewarding as possible for our clients.
What is a Donor Advised Fund (DAF)?
Donor Advised Funds are simply a charitable giving vehicle.
- By contributing to a DAF, the donor can generally take an income tax deduction for the amount contributed.*
- The donor retains the ability to direct the investments in the DAF.
- The donor also retains the ability to decide when, and to what charities, grants are made from the DAF.
- A DAF can simplify charitable donations, provide tax advantages* and help the donor and their favorite charities get the most from their giving.
How Does a Donor Advised Fund Work?
Give
Make an irrevocable gift to Southwest Community Foundation
The client is eligible for an income tax deduction for the gift.*
Invest
Direct investments while the funds are in the Donor Advised Fund
There are several investment strategies for the client to choose from, and the investments grow tax-free.
Grant
Decide when grants are made from the Donor Advised Fund with no annual requirements
The client can choose which of their favorite charities will receive grants from the Donor Advised Fund.
How Can B&B Group Bank Help?
- B&B Group Bank has partnered with Southwest Community Foundation (SWCF) to make setting up and managing a Donor Advised Fund as simple and rewarding as possible for our clients.
- A client wanting to create a Donor Advised Fund will work with a B&B Group Trust Officer to open the fund at SWCF.
- Once the fund is open, when Prosperity is retained as the investment advisor, the Trust Officer will assist the client in making the donation to the fund, and determining what investments are appropriate for the client’s fund.
*Neither B&B Group Bank nor its employees provide legal or tax advice. Clients should consult their own professional advisors.
INVESTMENT PRODUCTS ARE: NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY | NOT DEPOSITS OF OR GUARANTEED BY PROSPERITY BANK OR ANY OF ITS AFFILIATES | SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED
Contact us
+19102094377