If you have a donor-advised fund (DAF), then you’ve taken advantage of the fastest-growing charitable giving vehicle in the U.S. DAFs are among the most tax-friendly, flexible ways to support a cause that’s close to your heart right now.
By making a donor-recommended grant to BCRF through your DAF, you’ll support the best and brightest minds in breast cancer research and accelerate future breakthroughs for patients and their loved ones.
What is a donor-advised fund (DAF)?
A DAF is a giving account managed by a 501(c)(3) public charity such as a community foundation or the charitable arm of an investment firm (such as Fidelity Charitable).
Donors who contribute to a DAF get an immediate tax deduction and can then distribute the funds at any time and in any amount. Funds can also be invested to grow tax-free.
How can I give to BCRF through a donor-advised fund (DAF)?
You can recommend a grant to BCRF through your DAF by check and mail or online.
If your donor-advised fund is with Fidelity Charitable, Schwab Charitable, or BNY Mellon, you may recommend a grant to BCRF through DAFDIRECT online.
To recommend a grant by mail, contact your financial institution and notify BCRF via email or call us at 646-497-2645.
Make checks payable to: Breast Cancer Research Foundation.
BCRF’s federal tax identification number is 13-3727250.
Please mail checks to:
Breast Cancer Research Foundation
28 West 44th Street, Suite 609
New York, NY 10036
What are the benefits of a donor-advised fund (DAF)?
DAFs come with a whole host of benefits for donors, which is why they’ve exploded in popularity. Among their benefits:
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- Up-front tax deduction: When donors give to their DAF, they receive an immediate tax deduction even if they don’t yet distribute the funds to a nonprofit.
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- Flexibility: Donors can then recommend grants to nonprofits from the DAF at any time.
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- Tax-free growth: Any funds contributed to a DAF can be invested. All earnings grow tax-free, powering more support for charity.
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- Simplicity: DAF providers generally keep track of grants and contributions, saving donors time and effort at tax time.
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- No minimum payouts: Unlike private foundations, DAFs are not required to pay out a minimum of five percent.
FAQs about Donor-Advised Funds (DAFs)
1. How do donor-advised funds work?
A donor-advised fund (DAF) is a giving account managed by a public charity (also known as a sponsor). You contribute assets—such as cash, stocks, or other investments—to the DAF, receive an immediate tax deduction, and then recommend grants to your favorite nonprofits, like BCRF, over time. The assets in the fund can be invested and grow tax-free until they’re granted to a charity.
2. Are donor-advised funds 100 percent tax-deductible?
Contributions to a donor-advised fund are generally tax-deductible up to certain IRS limits, depending on the type of asset that’s donated and your adjusted gross income. For example, cash donations are typically deductible up to 60 percent of your AGI, while long-term appreciated assets may be deductible up to 30 percent. Always consult a tax advisor for personalized guidance.
3. Can I support BCRF through any donor-advised fund?
Yes. You can recommend a grant to BCRF through any donor-advised fund provider. Many donors use DAF sponsors like Fidelity and DAFGiving306 (formerly Charles Schwab), which offer online grant recommendations through DAF Direct. If your provider doesn’t offer online grant tools, you can still recommend a grant by contacting your fund manager and notifying BCRF.
