A Donor- Advised Fund (DAF) is a giving account established at a public charity. It allows donors to make a charitable contribution, be generally eligible to take an immediate tax deduction, and then recommend grants from the fund over time to charitable institutions such as Hoban.
Grants recommended from a DAF to Hoban can be used to donate to many different appeals and projects. However, a DAF grant cannot be used to pay for event sponsorships or occasions when there is something of value given in return, such as event tickets, meals, etc. Likewise, a DAF grant cannot be used to pay off a pledge made by an individual to Hoban since the gift is made by the public charity holding the Donor-Advised Fund instead of the individual.
Contact your tax advisor for more information on using a Donor-Advised Fund for your giving to Hoban or click HERE to use your Donor-Advised Fund.