Dan Hageman's Shortform

by Dan Hageman18th Nov 20202 comments
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Donor Advised Funds with no minimum contribution requirements

 

Fidelity Charitable and Schwab Charitable recently eliminated the minimum initial contribution requirements for their donor-advised funds. 

Fidelity and Schwab are major financial services companies. Their nonprofit arms operate donor-advised funds (DAFs), which are tools to make donating more convenient and tax-efficient (see Aaron Hamlin’s succinct summary for more info). Like many financial services companies, Fidelity and Schwab previously required customers to contribute ~$5,000 in order to open a DAF. Now, they’ll let you open a DAF with any initial contribution.

This is particularly exciting for donors interested in patient philanthropy: the idea that we could maximize the impact of our donations by donating later. To learn more about patient philanthropy and see if this approach might be right for you, see:

Now that it’s easy to open a DAF with a contribution of any size, it’s a great time to consider patient philanthropy.

Cheers to the Giving Season!!

 

*Special thanks to Cameron Meyer Shorb (Wild Animal Initiative) for the feedback!

This is really good news and reduces the barrier to utilize a great giving tool. Thanks so much for sharing this!