Donor advised funds are growing in popularity as a tool for generosity.
Everence Charitable Services has mirrored national charitable trends of increasing amounts of donor advised contributions and distributions in the last number of years.
Donor advised funds at Everence may be funded with a variety of assets, such as cash, securities, real estate, farm commodities and other marketable assets – including chicken eggs.
Eggs hatched into charitable funds
Several farmers in the Lancaster, Pennsylvania, area donated eggs at a time when egg prices were especially high because of bird flu in other parts of the country. Once the eggs were sold, the proceeds funded a donor advised fund, which allows the donors to recommend gifts to charity over time.
By making gifts to donor advised funds when profits were high, the businesses that own the farms realized immediate tax benefits and allowed the farmers to give now and in future years, when their incomes may be lower.
Many people find that donor advised funds provide flexibility, ease and control as they plan their charitable giving.
Donor advised funds allow people to receive a tax deduction in the year they make the contribution, but they can decide later which charities they want to support.
Nikki Shingle is Director of Charitable Relations for Everence. She works from the Everence office in Mount Joy, Pennsylvania.