GL

Greg L

2 karmaJoined Mar 2023

Comments
1

One important factor when looking for a DAF is whether it restricts your donations to only  public charities as defined by the IRS and will not let you direct donations to private foundations.  Both of these can be approved as 501(c)3) non-profits. I believe the vast majority of non-profits are classified as private foundations.  My son started a non-profit that was initially classified by the IRS as a private foundation. He can file in a future year after having actual experience and try to get classified as a public charity.   In his initial fund raising several of our friends with DAF's could not use their funds to make donations while other friends  using  other providers were allowed to make donations to his private foundations. I have my own 501(c)(3) private foundation and I can donate to any approved non-profit, public or private.  Investment options, fees and customer service are all important but the real value is in making donations to the charities you want to support.