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You may already have a donor advised fund (DAF), or you may be thinking about setting up one. With a DAF, you make your charitable gifts to a single entity that controls the DAF, known as the sponsoring organization, and then make recommendations to the sponsoring organization for further charitable grants from your fund.
This gives you the flexibility to recommend how much and how often money is granted to the American Museum of Natural History and other qualified charities by simply making recommendations to the DAF’s sponsoring organization, rather than facilitating individual donations to multiple charities yourself. You can recommend a one-time grant to make an immediate impact or recurring grants to use your DAF as a tool for future charitable gifts. We hope you will consider putting your DAF dollars to work at the Museum.
You can also create a lasting legacy by naming the Museum beneficiary of the entire DAF; or create a family legacy of giving by naming your loved ones as your successor so they can continue recommending grants to charitable organizations. You could accomplish both of those goals by naming charities such as the Museum as beneficiaries for a percentage of the fund and naming your loved ones as your successor for distributing the rest. Contact your fund administrator for a beneficiary form.
It is important to contact your fund administrator to explore the tax advantages of their DAF, the fees involved, and any limitations on how gifts from the DAF are used. Please contact the Museum to determine if a new or existing DAF is the best way for you to support the Museum’s work and achieve your specific goals.
Still learning about DAFs? Discover the ease of opening a donor advised fund—plus the advantages you’ll enjoy—with your FREE guide Centralize Your Giving With Donor Advised Funds.
Joe and Laura 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.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Laura recommend grants for the Museum (which they’ve supported for years) and a local animal shelter. The foundation presents the charities with checks from the Patricia Fund, which Joe and Laura named in honor of Laura’s mother. They name the Museum as the beneficiary to receive the account balance after their lifetimes. Joe and Laura are delighted to start this personal legacy of giving.
Legal name: American Museum of Natural History
Address: 200 Central Park West, New York, NY 10024
Federal tax ID number: 13-6162659
Ensure you’ve made the most of your donor advised fund—for your family and for the Museum. Download the FREE guide Maximize the Impact of Donor Advised Funds.