Mar 01, 2017
Did you know that a single DVD of the film Apollo 13 was responsible for the demise of Blockbuster? The concept for what became Netflix came to a gentleman named Reed Hastings when he forcibly paid $40 in overdue fines for a film he’d forgotten to return well past its due date. That one isolated incident created a seismic shift in the way we watch digital media.
These types of seismic shifts are happening all around us. In fact, according to Boston College Center on Wealth and Philanthropy, the biggest wealth transfer in U.S. history is happening now to the tune of $59 trillion! But for this transfer to successfully pass from one generation to the next, individuals need to exercise wise Estate planning of how they will give to their heirs, loved ones, and the nonprofits they care about.
One way to structure your giving is through a Donor-Advised Fund (DAF). DAFs are the country’s fastest-growing charitable giving tool because they’re simple, flexible, and tax-efficient. Here’s how they work:
- Create an account. With a DAF, you essentially place money into a special account sponsored by a trustworthy organization, like Barnabas Foundation, then personally advise how you want them to handle the funds for you.
- Give. You can donate cash, appreciated stock, or non-publicly traded assets like real estate, and then receive an immediate tax deduction. You then direct your DAF to bless the ministries you care about, such as Bethany Christian Services.
- Watch it grow. While you’re deciding how you want to give, your donation can grow.
When you give through a DAF, you’ll step into a seismic shift of generosity. Every gift you name to a ministry, like Bethany Christian Services, whether large or small, will create a ripple effect in the lives of those they serve. In return, you will be blessed. As Scripture says, “A generous person will prosper; whoever refreshes others will be refreshed” (Proverbs 11:25 NIV).
Don’t miss out on an opportunity to bless the next generation in a seismic way. Could a Donor-Advised Fund be right for you?