Giving to the causes you care about should feel meaningful, not complicated.
With DAF Day on October 8, we’re sharing a closer look at donor-advised funds, how they work, and how you can use one to support CLC and the children and families we serve.
If you already have a donor-advised fund, you may have questions about recommending a grant, timing your giving, or setting up recurring support. If you’re simply curious about how DAFs work, we’ve gathered answers to some common questions below.
Here’s what to know.
What is a donor-advised fund?
A donor-advised fund, or DAF, is a charitable giving account managed by a nonprofit sponsoring organization. You contribute money or other accepted assets, then recommend grants to eligible charities. The sponsor has legal control of the funds, reviews your recommendations, and sends approved grants to the charities you choose. Read more: IRS guidance on DAFs
How do I start a DAF, and do I need a large amount?
Talk with your financial advisor or a DAF sponsor about whether a fund fits your giving plans. Compare opening requirements, grant minimums, fees, and services. Some sponsors have no opening minimum, but individual grants may have minimums. Ask about both before choosing a fund or a recurring grant amount. Read more: DAFgiving360 fees and minimums
When do I receive a tax deduction?
Any eligible charitable deduction generally relates to your contribution to the DAF sponsor, subject to tax rules and your circumstances. Recommending a grant to CLC does not create another deduction. Your sponsor provides documentation for your contribution; your tax advisor can explain how current rules apply to you. Read more: Fidelity Charitable tax considerations
How do I recommend a grant to CLC?
Log in to your DAF account, search for CLC using our EIN, and enter the amount you would like to recommend. You can also ask your sponsor or authorized financial advisor for help. The sponsor reviews your recommendation and sends an approved grant directly to CLC.
Legal name: Children’s Learning Centers of Fairfield County, Inc.
Mailing address: 64 Palmers Hill Road, Stamford, CT 06902
EIN: 06-0665191
To support children, families, and teachers wherever the need is greatest at CLC, choose “general support” or your sponsor’s equivalent. Read more: CLC giving information · CLC IRS record · Grant recommendation steps
What will my grant make possible at CLC?
At CLC, ready means more, and your grant reaches children, families, and teachers together. For children, it supports the everyday experiences that help them learn, make friends, and discover what they can do, along with nutritious meals that fuel their day. For families, it provides support that reaches beyond the classroom, so parents can focus on work or school with peace of mind. For teachers, it helps CLC keep dedicated educators in our classrooms, so children are greeted each morning by familiar faces who know them well.
Will CLC know the grant came from me?
That depends on the information you ask your sponsor to share. Including your name and contact information helps us thank you and keep you connected to CLC. Sponsors may also offer anonymous giving or identify only your fund’s name. If you prefer privacy, you can ask your sponsor about those options. Read more: Fidelity Charitable donor acknowledgment options
Who can help with questions about supporting CLC?
For information on giving to CLC’s, a grant you are planning, or joining CLC Sustainers reach out to:
Ellen Christian-Reid, Donor Engagement Director
ellenchristianreid@clcstamford.org or 203-653-1370
For advice about opening or funding a DAF and your personal tax situation, talk with your DAF sponsor, financial advisor, or tax advisor.
However you choose to give, we’re grateful for your support of CLC and the children and families who are part of our community.