Investment and technology companies like Daffy provide a range of capabilities for Donor-Advised Funds (DAFs). These include the ability to liquidate complex assets such as stock and crypto, a feature that is particularly beneficial as only a few thousand out of the 1.5 million charities in the U.S. can accept these assets directly. By liquidating these appreciated assets, Daffy helps you save on taxes by getting the fair market value and skipping the capital gains, resulting in a larger donation.
Moreover, Daffy offers a unique set of features that make it a great option for a DAF. With Daffy, you can set a goal for how much you want to give each year and automate your contributions on a weekly, monthly, or quarterly basis. This ensures that you have funds ready to go whenever you're inspired to give. You can also set up one-time or recurring donations, so your favorite nonprofits always receive your support.
Daffy also provides a mobile app to help you give anywhere and whenever you're inspired to give. This app also allows you to search for charities nearby, helping you give back locally. Additionally, Daffy organizes all your donation receipts, making tax season a breeze.
Take the example of Jamie, a Daffy user who has automated their giving by setting a goal for the year, setting money aside regularly in their fund, and scheduling one-off or recurring donations. They can grow their giving potential through investing in their fund (tax-free) and have money to give when they are inspired by an event in the news or something in their community. All their giving is organized in one place, making tax season a breeze.
In conclusion, Daffy provides a comprehensive solution for Donor-Advised Funds, offering a range of capabilities that make charitable giving easier, more efficient, and more impactful.