Donor Advised Funds
Donor Advised Funds (DAFs) are a popular giving vehicle because of their immediate tax benefits and flexibility to support your favorite charities over time. It is in essence a charitable savings account.
To establish a DAF, you contribute cash, securities, or other assets to a donor advised fund managed by a public charity. A number of financial firms have charitable arms that host DAFs, along with community foundations such as our local Lake County Community Foundation.
In addition to receiving an immediate tax deduction on your contribution, those funds are then invested (any growth is tax-free), while you recommend grants to qualified charities like MYAC over time.
If you already have a DAF, we appreciate your considering recommending a grant to support the students and programs of Midwest Young Artists Conservatory.