Convenience and flexibility are just a few reasons people like using a Donor Advised Fund (DAF) for their philanthropy. But you can also use a DAF to plan your legacy. You can also create a deferred fund for your future charitable giving.
A differed fund is a great option for someone looking to leave a personal legacy. A donor can set up a fund today with a zero balance by adding Truman Heartland to their estate plan. Each donor can outline how they would like their funds to be allocated after their passing to ensure their favorite charities and causes are beneficiaries of their generosity in perpetuity.
Donors can designate several charities that are close to their hearts or create a field of interest fund with a competitive grant component. A competitive grant program is where qualified charities in the community apply to receive grants from your fund. The Foundation or other authorized representative reviews the proposals looking for those programs and projects that best fit the wishes of the donor.
If you have been wondering how you will continue to support those organizations that mean the most to you, a deferred fund might be a good option. Talk with your professional advisor, or give Cole Eason, Vice-President of Advancement, call for more information at 816.912.4182.