Ten years ago, Donni and Liz established a donor advised fund (DAF) with The Associated. At the time, they took advantage of the opportunity extended to young donors to establish a DAF and contribute to it over a 5-year period to meet the minimum $10,000 requirement. Opening a DAF was consistent with their focused long-term view of their philanthropy – blending the systematic approach as befits Donni’s financial analyst profession with Liz’s philosophy as a Baltimore City Teach for America alumna. “We established a donor advised fund to marry our charitable giving with investing and saving – our fund grows and allows us to make a greater impact on the issues we care about, and do so in a tax-efficient manner,” says Donni. “We can add to the fund at any time based on tax objectives, while affording us the time to carefully consider and direct our charitable funds to the causes that matter the most to us.”

Liz and Donni have four children – three boys and one girl. “We teach our children that charity and giving back are essential Jewish mandates and values, and hope that the fund will give them an opportunity when they are older to make giving decisions,” says Liz.

A donor advised fund is the perfect vehicle to encourage philanthropy for the next generation. When children are younger, small gestures like discussing your family’s giving at the dinner table or allotting small sums for each child to allocate on their own instill the Jewish values that Donni and Liz are modeling for their children. As children get older, naming them as successor donor advisors or current donor advisors are options for continuing a legacy of family philanthropy. Not only will their legacy live on through those who follow; the fund can also be used to endow one’s generosity forever.

To learn more about how philanthropy can be more of a family affair, contact Jackie Yahr at 410-369-9248 or jyahr@associated.org.