Harness the Giving Power of a Private Foundation
A donor-advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Zaytuna College and other charities.
You 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. In addition, you avoid the cost and complexities of managing a private foundation.
In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.
See How It Works
Uthman and Imane 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.