Establish a Charitable Fund for Deferred Giving
A Charitable Donor Advised Fund enables an individual, family trust, company, or other organization to set up a charitable fund. Cash or assets can be donated now, triggering applicable tax deductions, while disbursement decisions can be made at a future date.
After the fund is established, donations can be made at any time to 501(c)3 charities such as a church, school, or other recognized charitable organization.
Although most donors plan to give only a portion of the growth in their fund’s assets as charitable donations so that the fund and future donations can grow, the amounts donated are entirely up to the individuals or organization setting up the fund.
Summit works with an independent charitable fund administrator to ensure that funds are properly managed according to applicable tax laws and the wishes of the donor.
The donor may name their fund as they wish. Donations may be made in the name of the fund or anonymously as the donor desires. Successor advisors may be named to continue the fund should the original donor no longer be able or wish to direct it. Future recipients of fund donations may also be named in advance.