Donor Advised Funds
An increasingly popular method of charitable giving, a Donor-Advised Fund (DAF) can be an easy and flexible way to manage your giving and help you achieve your strategic philanthropic goals. Here is some helpful information, and if you have any questions, please contact WMRA Membership Director Scott Lowe at 540-568-3806.
How Donor-Advised Funds (DAFs) Work and How You Can Support WMRA
A Donor-Advised Fund (DAF) is a charitable giving account established at a public charity that allows you to make a tax-deductible contribution and then recommend grants to your favorite nonprofits over time. Think of it as a charitable investment account designed to support causes you care about, including public radio stations like WMRA.
What Is a Donor-Advised Fund?
- You can contribute cash, stocks, or other appreciated assets to a DAF managed by a sponsoring organization such as a community foundation or financial institution.
- You receive an immediate tax deduction for your contribution, even though you can decide later which charities receive grants from your fund.
- The funds in your DAF are invested for tax-free growth, potentially increasing the amount available for giving.
- You retain advisory privileges to recommend grants to qualified 501(c)(3) public charities like WMRA whenever it suits you.
Benefits of Giving Through a Donor-Advised Fund
- Immediate Tax Advantages: Get an immediate tax deduction when you contribute to your DAF, which can reduce your taxable income for the year.
- Flexibility and Control: You decide when and how much to grant to WMRA or other charities, allowing you to time your giving strategically.
- Tax-Free Growth: Your contributions can grow tax-free in the fund, increasing your philanthropic impact over time.
- Simplified Giving: Consolidate your charitable donations into one account, making recordkeeping and tax preparation easier.
- Legacy and Family Involvement: Maintain family involvement in charitable decisions and create a lasting legacy by naming WMRA as a beneficiary of your fund.
How to Support WMRA with Your Donor-Advised Fund
Supporting WMRA through your donor-advised fund is simple and impactful:
First, Contact your DAF sponsoring organization (such as Fidelity Charitable, Schwab Charitable, or your community foundation) and recommend a grant to WMRA by providing the following information.
WMRA of James Madison University
983 Reservoir St.
Harrisonburg, VA 22801
EIN Tax ID: 54-6001756 (James Madison University)
Why Choose a Donor-Advised Fund to Support WMRA?
Donor-Advised Funds are the fastest-growing charitable giving vehicle in the U.S. because they combine ease, tax efficiency, and strategic flexibility. By giving through a DAF, you help ensure that WMRA can continue providing independent journalism, engaging programs, and vital community conversations that enrich and inform listeners.
Consider using your DAF to make a meaningful impact on public radio today. Your generosity sustains WMRA’s mission and strengthens the voice of your community.