We will be having a new online course on “Donor-advised funds (DAFs) in Canada: Understanding this important and often misunderstood philanthropic vehicle” on December 3, from 1:00 PM EST to 2:30 PM EST. The cost is $249, but there is an early-bird special if you sign up early enough.
Donor Advised Funds, or DAFs, as they are commonly called, have become increasingly popular in Canada. A DAF is a registered charity, and it has separate donor-advised funds. A donor can donate to the DAF, receive an official donation receipt and then make recommendations to the DAF as to which registered charities should receive gifts from the DAF. While DAFs have existed for decades with community foundations, they are now being increasingly embraced by other charities as well as by financial institutions.
DAFs are often misunderstood. They have supporters and critics. DAFs can be very helpful to philanthropists and charities, but some donors, in certain instances, may find them limiting or frustrating. Understanding DAFs is important for donors, charities and regulators.
With the increase in the number of DAFs and the assets they have, there has been increasing regulatory scrutiny of DAFs as well as increasing transparency requirements for DAFs. There has also been more conflict between donors and DAFs, which has resulted in litigation.
This 90-minute course will cover:
- How every foundation and DAF is different
- What is a DAF?
- DAF versus other types of restricted gifts
- DAF versus alternative structures, especially private foundations
- Why a DAF may be useful even for those with a private foundation?
- How does a DAF work?
- What is a qualified donee?
- Tax benefits of donating to DAF or registered charity
- Establishing a DAF in an existing charity or establishing a new charity
- What are the donor benefits of a DAF?
- Donor concerns with DAFs
- Tips for donors and their advisors when dealing with DAFs
- Public Policy Concerns with DAFs
- Regulation of DAFs
- Recent case law dealing with DAFs
- Optional Quiz
This course is meant for those who work for DAFs, philanthropists who are considering gifting large amounts to DAFs, and professional advisors for charities or philanthropists who wish to understand this planned giving tool.