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My DAF report for 2019

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  • My DAF report for 2019

    I started a donor advised fund with Vanguard Charitable at the end of 2018. I contributed $25,000 in tax year 2018.

    In 2019
    Gave away: $16,600
    Remains: $13,800
    Gains (100% stock): $5,400
    contributions: zero

    In 2020 I plan contribute $30-50k (every other year schedule as I am MJF and on the odd years should be below $24k standard deduction)

    overall I’m very happy with the DAF. I can give without my name attached. One downside with vanguard is a minimum grant of $500.

    I also think a DAF is good asset protection from the standpoint that I want to give a significant portion of my money away.

  • #2
    I have heard that people have started an account with Fidelity or Schwab and will transfer money to those DAF accounts so that they can give lower minimums of $50.

    It does seem like an annoying work around and I hope that vanguard gets the point someday.

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    • #3
      I think the initial contributions at fidelity or Schwab are $5k. It might be subsequent contributions that are $50.

      most of the stocks I would donate are at TD Ameritrade and E*TRADE earning bonuses. I guess TDA will change to Schwab later on
      Last edited by Lithium; 12-08-2019, 09:54 AM. Reason: autocorrect

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      • #4
        Originally posted by Lithium View Post
        I think the initial contributions at fidelity or Schwann are $5k. It might be subsequent contributions that are $50.

        most of the stocks I would donate are at TD Ameritrade and E*TRADE earning bonuses. I guess TDA will change to Schwab later on
        I have a TD ameritrade account. Was about to open a Fidelity DAF but may wait and just do it with Schwab. Just hope they get integrated soon.

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        • #5
          Originally posted by runfast00 View Post
          One downside with vanguard is a minimum grant of $500.
          I'm surprised that folks like you that give away 5 digits every year even mention the minimum. I mean, if you're giving away $500 at a time for $25k, that is a ton of time on your part (researching/due diligence, etc).

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          • #6
            Originally posted by G View Post

            I'm surprised that folks like you that give away 5 digits every year even mention the minimum. I mean, if you're giving away $500 at a time for $25k, that is a ton of time on your part (researching/due diligence, etc).
            I make lots of $50, $100, and $250 donations from my Fidelity DAF. Just because I give five figures away every year does not mean that all of the donations are over $500.

            What I would really like to see is my Fidelity DAF somehow linked to Facebook in order use it to contribute to friends’ fundraisers.

            Comment


            • Tim
              Tim commented
              Editing a comment
              Are your friends' fundraisers tax exempt?

            • VagabondMD
              VagabondMD commented
              Editing a comment
              Yes, friends' fundraisers are tax exempt.

          • #7
            You guys are more generous than me, by both width and depth!

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            • #8
              Throughout the year I probably give to 4-5 different fundraisers in my hospital system alone. I would not give $500 each time. if I had the option to get 50 and it would be much more useful. With the new higher standard deduction I do not get any tax benefits from giving at this time. Possibly someday I will start a DAF and get a deduction here and there. It would be nice to pair that with some appreciated shares. However that might take some time since I just started my taxable account this year. Not a bad year to start though!

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              • #9
                I finally opened a DAF at Fidelity this year, and really like the smaller donation minimums. I have several different charities that I have set up recurring grants to, and prefer to give smaller amounts regularly than one lump sum. It is so simple and I feel it has made me more generous. The only downside for me is that it can take a little while for a grant to be issued, so if there is a specific fundraiser, I need to let them know it won't be an immediate donation.

                Comment


                • artemis
                  artemis commented
                  Editing a comment
                  Charities really appreciate smaller, regular donations. Most people give at the end of the year, but charities need money in June as well as December. Regular donations they can count on during the lean months of the year make their budgeting easier.

              • #10
                Artemis. Good point. I used to give at the end of the year. But now I can spread my giving out though the year without letting year to year variation in tax liability affect my charity at the end of a particular year

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