Donor-advised fund

As the grant space is shrinking or as money is being taken away from other daily necessities, food, right? Those kinds of things where people are shifting their mindset of where money should go.

This is still a necessity, right? And how do we not only invest, talk about the importance of this work, but really, you know, being unique and seeing opportunities for funding, whether it's individual donors, you know, we talked about DAFs and, you know, annual giving and all these opportunities just to be able to, as I think about planning and where they want to make their impact and, thinking about the economy or thinking about the future of arizona or just who we are there's opportunity here right now right and so you know we're not struggling to get grants we're struggling to fill sustainability in grants right and how do we use them and how do we expand on programming that we need to create a runway that we can last for five to ten years right we're about to turn 30 years old and i want to be here when we're turning 60.

and having to deal with a landscape that's kind of chaotic right now.

You don't know if a grant's going to come in at the same level, or you don't know if it's even going to get renewed at this level.

The second they get paid, instantly, ten percent moves over into this other charity account.

[coughing] Other people set up a JCF or a DAF account, and the money automatically flows into a charity account.

They don't even have access to it.

In a JCF or a DAF account, even if you wanted to spend it on non-charitable causes, you can't.

So the first thing is heart to spine.

The second thing is spine to eyes.

We're going to talk about donor advice funds.

And today we're going to learn about how do you do this? How do you maximize the potential opportunities with the DAF? How do you run it? And what are some maybe unknown opportunities here to maximize the tax savings? in your efforts to set aside cash or assets and create meaningful charitable donations to organizations and institutions that you legitimately want to give to.

So, Phoenix, thanks for your time today.

Can you introduce yourself in 60 seconds or less before we go into it?

So they put the money in the donor advised fund.

The donor advised fund now has cash that has to go to a charity at some point.

So you could put the money in the DAF.

And then later on, you decide which charities get the funds and when they receive the funds.

Yep.

And so spent over a halving at Unchained, about four and a half years, working mostly on their IRA product, helped them build a charitable gifting structure called Donor Advised Fund, working through inheritance protocols, lots of key control discussions, but most notably launching their financial advisory service.

So we worked with...

Bitcoiners who took Bitcoin seriously, and they were often falling short in discussions with advisors who didn't see the world the same way.

for yeah

So that's certainly a tool in the tool belt.

I like donor advised funds.

I helped built the first in-kind Bitcoin donor advised fund through Unchained.

Or you try to do everything, and it's just really difficult.

You know, it's like all the money that's sitting in the DAFs, you know, not doing anything.

Why do you have money just sitting there making money for banks? How is that helping anybody?

Yeah.

Joanne helps individuals and families incorporate philanthropy into their financial and estate planning, while also leading TD's research on women in philanthropy.

She's also the architect and executive director of the Private Giving Foundation, Canada's first donor-advised fund established by a financial institution, which has granted more than one billion dollars to charities since its inception.

In our conversation, we talk about the expanding waterfront, the expanding role that DAFs play in the Canadian charitable sector, how board members and leaders of organizations can ask questions and prepare their organizations to be more DAF-friendly, working with advisors, working with their fundraisers to tell that story of how DAFs can benefit the charities that they represent.

And our conversation then pivots to a really important issue, the emerging role, the expanding role of women in philanthropy across Canada, the research that TD has sponsored and been a part of since 2014, what is changing, what will change, and I really appreciated Joanne's advice about how to understand the difference between women and male philanthropists in Canada, and it came down to some advice that we give to all of our clients and all of the guests that come on the show, which is talk to your donors.

It is a great conversation, one that I really hope that you'll enjoy, from someone who has done an incredible amount to advance our sector.

I was building it.

Marketing said to me that, "It'll be a matter of time before competitors copy us, and if they don't, then you should be worried as to whether there's a market for this." Anyway, lo and behold, they're all over the place.

We were talking earlier, DAFs are having their moment.