Donor Advised Fund
Harness the Giving Power of a Private Foundation
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 Texas Scottish Rite Hospital for Children and other charities.
You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.
In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.
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 Scottish Rite Hospital (which they've supported for years) and the Animal Rescue League. The foundation presents the charities with checks from the Megan Fund, which Joe and Laura named in honor of their daughter. Joe and Laura are delighted to start this personal legacy of giving.
- Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
- Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
- Contact Mike Stimpson at 214-559-7886 or Mike.Stimpson@tsrh.org to discuss using donor advised funds to support Scottish Rite Hospital and our mission.
- Seek the advice of your financial or legal advisor.
- If you include Scottish Rite Hospital in your plans, please use our legal name and federal tax ID.
Legal Name: Texas Scottish Rite Hospital for Crippled Children
Address: 2222 Welborn Street, Dallas, Texas 75219
Federal Tax ID Number: 75-0818178
Make Sure You Have a Plan for All Your AssetsDownload My FREE Personal Estate Planning Kit
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.