Donor Advised Funds
Are you looking for an easy, cost-effective way to support the Monterey Bay Aquarium and other causes you love? A donor advised fund, which is like a charitable savings account, may be the right choice for you.
With a donor advised fund, you are able to transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted to the Aquarium or other charities—sometimes as easily as using a Web portal. And you avoid the cost and complexities of managing a private foundation.
You qualify for a federal income tax charitable deduction at the time you contribute to the account, and the power to make recommendations on which charities to support whenever you want. You centralize your giving and record-keeping in one location. And maybe best of all, you can start a legacy of giving by letting your children help decide which grants to recommend.
Check Out This Potential Scenario
Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation. The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support. After researching community needs with the foundation's staff, Joe and Laura recommend grants for the Aquarium (which they've supported for years) and the Animal Rescue League. The foundation presents the charities with checks from the Megan Fund, which Joe and Laura named in honor of their granddaughter. Joe and Laura are delighted to start this personal legacy of giving.
- Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
- Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
- Seek the advice of your financial or legal advisor.
- Contact Eric Weis at 831-648-4877 or firstname.lastname@example.org to discuss using donor advised funds to support the Aquarium and our mission.
- If you include the Aquarium in your plans, please use our legal name and Federal Tax ID.
Legal Name: Monterey Bay Aquarium
Address: 886 Cannery Row, Monterey, CA 93940
Federal Tax ID Number: 94-2487469
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.