JCF Makes Donor Advised Funds More Accessible to All

By Stanley Stone, JCF Executive Director

I am proud to announce that the Jewish Community Foundation Board voted to reduce the minimum dollar amount required to open a Donor Advised Fund (DAF) from $10,000 to $5,000 through December 2018. In addition, the fee for all new DAFs opened now through the end of 2018 with a starting balance of $5,000 to $9,999 will be reduced by 50 percent, from $350 to $175.

While meeting with colleagues from other large Federation communities at the Jewish Federation of North America’s General Assembly recently, I learned that many communities are lowering their DAF minimum amounts for a certain age group as part of overall efforts to reduce barriers for younger donors. When I brought the idea to Greater MetroWest, the JCF Board thought this would be a great opportunity to lower the barriers for our whole community, encouraging donors of any age to see Federation, through Foundation, as the place to fulfill all of their philanthropic needs.

Funds deposited into a DAF are immediately tax deductible, so creating one by December 31, 2016 could mean an additional deduction of $5,000 or more for your 2016 taxes. With a Donor Advised Fund, JCF will manage the Fund’s assets and handle all aspects of disbursements to qualitied charities of all kinds: Jewish and secular, large and small, local and national, and so on, based on your recommendations. We write the checks, and mail them to your charities so you don’t have to. You can choose to give your fund a family name (such as the Cohen Family Fund) or a generic name if you wish to remain anonymous (such as the ABC Fund). And you can manage all transactions either on our secure online platform, via email or fax, or with a JCF dedicated professional.

The JCF Board of Trustees approved these new requirements in order to make the advantages of a DAF – immediate tax deduction, professional fund management and grant distribution, and the opportunity to involve family members in philanthropic decisions – accessible to more donors in Greater MetroWest. Opening a DAF is a big decision – one we know you don’t take lightly. I would love to speak with you one-on-one to help you decide if a DAF is the right choice for you and your family. Please contact me at (908) 288-2401 or via email at sstone@jfedgmw.org.

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