Donor Advised Funds & Foundations

What is a traditional Donor Advised fund (DAF)?

A donor-advised fund (DAF) is a tax-deductible financial account for the purpose of charitable giving. Individuals wanting to make a charitable contribution, but have not selected a particular charity can open up a DAF at many mid-sized and large financial institutions if they have charitable services. The individual receives a tax-deduction from the financial institution as soon as they put money into their new DAF, and they can add to it as often as they want. The costs to manage these DAFS can be expensive, and when the account holder wants to make a distribution to an actual charity, that request can take weeks to process.

What is a traditional foundation?

A foundation is a tax-deductible financial account for the purpose of charitable giving. Foundations are created by individuals or families to formalize their giving over time. Unlike a DAF, Foundations allow account holder control of their distributions. Foundations require a minimum of $15,000 to set up and require a high level of administration and compliance tasks.

What are the issues with traditional donor advised funds and foundations and what is the $160 Billion Dollar Parking Lot?

Well, to put it plainly, the problems with traditional donor advised funds and foundations are why fundforall was born. We have been watching the problem grow over the past several decades and in 2021, we decided to take action.

• Problem 1 - Access - Traditional Donor Advised Funds or Foundations are not accessible to the majority of donors in the USA due to high financial entry barriers that mandate a minimum of $2,500 for a donor advised fund and $15,000 for a foundation
• Problem 2 - Knowledge - Most individuals and businesses are looking for new ways to realize the full scope of their giving impact but are unaware of the benefits of having a charitable fund account (like a Donor Advised Fund or Foundation)
• Problem 3 - Charitable Warehousing - Today there is 160 billion dollars sitting in donor advised funds. We have named it The 160 Billion Dollar Parking Lot. There is currently no regulation or mandate for the money to be put to work even though it has been allocated as charitable even though the account holder has received the tax benefit for the contribution.

How is fundforall solving this problem?

We are removing financial barriers to Donor Advised Funds and Foundations and providing access to charitable giving accounts for all. fundforall giving accounts allow individuals and businesses to set aside money for charitable purposes (and receive an immediate tax-deduction) and distribute it to their favorite charities at lightning speed. From these accessible donor advised funds and foundation accounts, account holders will see all their giving history organized in one place and realize the impact of their giving by creating personalized reports right from their account. These accounts will reduce charitable warehousing by incentivizing giving, not saving. Check out our FundPromise.

What is a fundforall giving account?

A fundforall giving account is a way for you to set aside money for charitable purposes and distribute it to your favorite charities at lightning speed. From your account, your giving history is organized all in one place, and you can see the impact of your giving by creating personalized reports out of your account with the click of a button. You can have fun while you give by earning badges for achieving milestones, and you can invite friends and family to join you in your giving journey.

How is a fundforall giving account different from a Donor Advised fund or Foundation?

A fundforall account is a Donor Advised Fund or Foundation (depending on what account you select). It offers a lot more benefits than traditional accounts and it’s accessible to everyone. The starting cost for traditional DAF is $2,500 and $25,000 for a foundation. We offer a Giving Starter account for free, a Giving Expert account for $99, a Giving Pro Foundation account for $299, and a Giving Pro Corporate Foundation for $2,000.

What makes fundforall better than other DAFs or Foundations?

fundforall is a completely new way for givers to manage their charitable giving. We offer a wide range of benefits to traditional DAFs and foundations. Our vision is to reduce the 160 Billion Dollar Parking Lot that is plaguing the charitable sector today. We exist to serve our community by providing fun, rewarding and engaging digital giving solutions to allow them to realize their full giving potential.