Donors advised fund
Has anyone setup a DAF to contribute money to a Fund now to use for charity donation later? It seems like a good way to offset your taxes while having your future donation grows as other investments. For example, if I commit to donate 3k/year but want to deduct 10k from tax this year for charity, I can setup such fund. Wonder what the best DAF out there? Any pros and cons? Example: https://www.fidelitycharitable.org/giving-account/what-you-can-donate/donating-cash.html
I've used one. The main reason I do is to make taxes simpler - I get a single receipt to write off regardless of how many organizations I give to. As for pros/cons, getting one connected to an account you already have is probably simpler to manage. Also, look out for the minimum donation to open one with - I remember vanguard in particular being very high (25k iirc).
Have a Fidelity DAF. It definitely makes taxes easier, plus it’s easy to disburse the funds—you just search by name or tax ID #. The other benefit is that it “keeps you honest”. Before I had it, I had a target donation amount per year, but it’s easy to get distracted and forget to donate.
I set one up. It does help offset the higher bracket you'll find yourself in this year due to IPO. The fees are high (Fido has a $100 minimum) but the convenience and tax savings are worth it. Having one at the same place as your brokerage account is the way to go because they're often integrated in a way that allows you to donate long term appreciated securities in a few clicks for maximum tax benefit.
East Bay Community Fund if you're east bay area. https://www.ebcf.org/