A donor advised fund (DAF) provides a seamless and easy way for people to meet their generosity goals.
These funds provide scaffolding for the charitable sector and can encourage other generous individuals and businesses to create their own fund to have a meaningful impact.
On Oct. 9, Canada’s first DAF Day will help raise awareness about the importance and impact of these funds, while encouraging donors who already have a fund to make a charitable gift.
The Burlington Community Foundation is home to more than 120 donor advised funds, which allow community members to support causes they care about.
“Working with BCF has made our giving seamless,” said one BCF fundholder, whose family chooses to give anonymously. “We have been able to support multiple organizations we care about, and BCF also provides insights into where our giving can have the greatest impact.”
Through a donor advised fund, annual grants can be directed to areas that are meaningful to fundholders. Funds can be created as part of legacy planning, or to help meet personal, family or business generosity goals. They can be built through gifts of cash, securities, and online donations.
Once an endowed fund reaches $25,000 and is invested for one year, it can provide grants to registered charities locally and across Canada. Other funds can be invested for the short term and grant sooner.
“When we first reached out to BCF, we were heavily debating between working with another charitable foundation,” shared the fundholder.
“But once we spoke with the BCF team, we saw the clear difference. BCF has meaningful relationships with charities on the frontlines and is able to provide insights that align with our giving goals. For us, this is the most strategic way we can make a charitable impact in our lifetime.”
The Burlington Community Foundation has been a trusted philanthropic partner for more than 25 years, working with government, businesses, individuals, and charitable partners to create impact in the city and beyond.
Since its inception in 1999, BCF has invested $12.7 million in people, projects, and non-profit organizations that strengthen Burlington and communities throughout Canada.