MMFA serves as the sponsoring charity for the Moravian Donor Advised Fund (DAF). A DAF is created by a donor or group of donors via an irrevocable gift to a public charity where the donor or grant advisors retain the privilege of making grant recommendations over time.
Donors are eligible for an immediate charitable income tax deduction upon funding their account, based upon the tax rules for gifts to a public charity. MMFA invests the funds and handles administrative matters for individual accounts, including but not limited to check writing, charity due diligence and verification, statement production, and all gift acknowledgments.
Individuals, families, companies, foundations, and other entities can start a DAF account by contributing assets.
Your DAF can have successors and become a perpetual fund after your passing. Or the balance can become a direct gift to one or more named charities. MMFA offers four different investment pools with a blend of mutual funds.
MMFA will consider any asset, including privately-held stock, real estate, restricted/controlled stock, tangible personal property, or even transfer of an existing DAF as source funding.
Unless you specifically restrict it, anyone can make donations to a DAF account.
It is a great tool for weddings, Christmas gifts, memorials, etc.
Click here to read a very personal blog post from our very own president Chris Spaugh about how setting up a DAF helped Chris and his family see hope amidst sadness.
To read our brochure, click here.