Donor Advised Fund
A Donor Advised fund offers all of the convenience and efficacy of a private foundation, without the cost and complexity. It is an easy, cost-effective way to support the Winnipeg Symphony Orchestra and other causes you believe in, both now and into the future.
It works like a charitable version of a savings account. You transfer cash or other assets to a charitable organization that provides Donor Advised Funds, such as The Winnipeg Foundation, or the charitable arm of your bank. You then have the chance to recommend how much money is granted to the Winnipeg Symphony Orchestra or other charities, and how often. Sometimes it can even be done online.
You qualify for a charitable tax receipt at the time you contribute to the account, and are given the power to make recommendations on which charities to support whenever you want. It allows you to consolidate your giving and record-keeping in one location while supporting a variety of charities. You can also designate where the money goes in perpetuity, or allow your heirs to make the decisions in the future.
William and Leslie want to give back to their hometown by using their money to fund important local causes. They establish a $25,000 donor advised fund with The Winnipeg Foundation. The couple receives an income tax receipt for the amount of the gift. They then get all the time they need to decide which charities to support. After researching community needs with the foundation’s staff, William and Leslie recommend grants for the Winnipeg Symphony Orchestra (which they’ve supported for years) and the Assiniboine Park Conservancy. The foundation presents these charities with cheques from the Milton Fund, which William and Leslie named for their grandson.
If you are interested in getting started, speak to your financial advisor, or check out our Suggested Advisors.
(Note: As your original contribution to a Donor Advised Fund provides the maximum tax deduction, your donation through a Donor Advised Fund cannot receive any benefits that change the value of your deduction.)
Please Seek Expert Advice: The WSO strongly recommends that you seek professional advice to ensure your financial goals are considered, your tax situation reviewed, and that your legacy gift is tailored to your circumstances. The WSO recommends that you consult your lawyer or estate planner regarding the specific wording of any gift in a will.
For further information, please call Beth Proven at (204) 949-3989 or email firstname.lastname@example.org.