A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to the Connecticut Humane Society and other qualified charities. You can recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts.
You can also create a lasting legacy by naming the Connecticut Humane Society the beneficiary of the entire account or a percentage of the fund. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to charitable organizations. Contact your fund administrator for a beneficiary form.
An Example of How It Works
Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Laura recommend grants for CHS (which they’ve supported for years) and a local food pantry. The foundation presents the charities with checks from the Snuffy Fund, which Joe and Laura named in honor of their first dog. They name CHS as the beneficiary to receive the account balance after their lifetimes.