By Yurianna Mikolay, Executive Director
Ocean Reef Community Foundation
In addition to the many great solutions the Foundation’s Donor Advised Funds (DAF) offer, particularly at year-end for that last minute tax deduction, we are pleased to roll out new conveniences in the form of an online Donor Portal this month.
First, a brief overview of my “Top Ten” favorite ongoing benefits of giving with a Foundation DAF (in no particular order, see more detail here):
- Instant, low minimum start-up ($10,000) for a named fund
- No Foundation fees or costs to maintain; Investment option with no management fees
- Maximum tax advantage of any giving vehicle
- Avoid Capital Gains Tax with appreciated stock donations
- Time donations for maximum tax advantage with no required annual payout
- Simplicity and convenience, centralize all your giving on one statement
- Accountability and stewardship, the responsibility is on us
- Expertise on and connections to local charities and philanthropic resources
- Help establishing Florida Residency
- Gifts identify you as part of the community, help create awareness of the Ocean Reef ’s generosity
Beginning later this month, our Donor Portal will enable Advised Fund Donors to add to that list 24/7 access to real-time information about their funds, whenever and wherever you want it, with a secure login via the internet. New features include:
- Online access to real-time balances; past contributions, giving history and statements; investment performance; tax documents and more
- Ability to submit grant requests online by choosing from a list of past grants or searching for and researching new IRS-qualified organizations via Candid GuideStar
- Real-time status of gift requests
- Access to view and contribute to community needs online through our “Co-Investment Opportunities”
While the Donor Portal will provide something of a “self-service” option for those who have come to expect online access as a modern convenience, it is just that – another option. Donors who are more inclined to a full-service, lower-tech approach can continue to have it their way. (Yes, we will still take your gift requests scrawled on the envelope of a snail-mail appeal and research the new charity you heard about for you with pleasure!)
A named DAF can be opened in literally just a few minutes and give you all the time you need to decide how to donate. To learn more, stop by our office in Suite 148 of the Ocean Reef Business Center, visit www.oceanreefcommunityfoundation.org, email ymikolay@oceanreef.com or call (305) 367-4707.
