Transferring your current donor-advised fund (DAF) to Daffy is a simple and straightforward process. Here's how you can do it:
1. Log into Daffy, tap Add Funds, and tap “DAF transfer”.
2. Indicate how much you are transferring and from which provider.
3. Log into your existing provider.
4. Make a grant of any amount to the Daffy Charitable Fund (EIN: 86-3177440). Ensure your grant is not anonymous and if required, indicate the grant is for “where needed most.” Daffy's address is: 221 Main Street, #2061, Los Altos, CA 94023.
You’ll receive a notification when the funds are in your account.
But why should you consider Daffy as your DAF provider? Traditional DAF providers often charge high administrative fees. For instance, Fidelity charges a minimum of $100 a year or 0.6% of assets, whichever one is higher, in fees that go to the provider instead of the charities that you care about. The fee also increases as the account balance grows.
Daffy, on the other hand, charges significantly lower fees, starting at $36 a year and offering lower-cost investment options. The goal of Daffy is to help individuals give more by saving them money on fees, and is designed to increase an individual's impact on the causes and organizations that they care about.
Moreover, Daffy supports various contribution methods including Cash, Credit, Crypto, or Stock. All your contributions to your fund are still tax-deductible in the year they are made because Daffy is a registered 501(c)(3) not-for-profit organization.
In conclusion, transferring your DAF to Daffy not only simplifies your giving but also maximizes your impact by reducing unnecessary fees. So, make the switch today and experience the Daffy difference.