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It’s always fulfilling when you donate to a worthy cause, especially when you know the funds will be used properly. Helping people and organizations has never been easier due to advances in technology and globalization. But, just like any other transaction or charitable donation, participating in the world of nonprofits demands a finite amount of research and awareness. There’s also the matter of convenience to consider, particularly if you or your company are considering sizeable donations to various organizations. Thankfully, it’s never been easier to ensure that your donation is going to a reliable and vetted source. One of the best ways to do this is by using something called a donor-advised fund.
What is a Donor Advised Fund (or DAF for short)? Donor-Advised Funds, sometimes called DAFs, are kind of like a designated checking account for money you allocate to charitable donations. Just like you want to have an accountant and a diverse portfolio for your normal savings, income and spending money, most people eventually realize that they want to be intentional about how they store and spend their charitable funds as well. Once you’ve established a DAF through a third-party nonprofit, this 501(c)3 sponsoring organization manages the account and its investments. Such hosting nonprofits could include community foundations to financial service firms’ nonprofit arms like Vanguard Charitable or Schwab Charitable. Why a DAF? Donor-advised funds aren’t the only way to give to charity, but they are one of the most convenient and tax beneficial ways to give to specific institutions. It’s for this reason that DAFs have mushroomed in popularity, particularly within the past decade. The advent and growth of DAFs shows just how much philanthropists like to invest in organizations they believe in, which is always a good thing. In fact, Accounting Today cites the most recent 2019 DAF data report as showing the number of DAFs increasing by 300 percent since 2010, and grants coming out of them having tripled from $7.24 billion to $23.42 billion in the past ten years. The National Philanthropic Trust emphasizes the three main benefits of DAFs for individuals and institutions, alike: first, donors receive an immediate tax deduction rather than after the tax year’s calculations are made; second, donors can recommend grants to their favorite charities whenever they like; and third, donors have ease of use by being able to donate and/or allocate funds at any time. Of course, DAFs aren’t the only way to give, and they may not be right for everyone. The main types of givers who will enjoy a DAF are those who can give regularly, choose specific causes where they’d like their money to grow, and anyone who would enjoy a convenient user experience akin to online banking. Where does the money go? Contributors to DAFs can recommend where certain grants will go, but for the most part, donation decisions are made by the financial professionals managing them (those working for the sponsoring organization or 501(c)3 nonprofit. However, contributors may not always immediately know which organization they want to receive a grant, so doing some research about nonprofits you’d like to support always helps. Live Care Foundation is one such nonprofit that uses donated funds to help those who are in need. People living with disabilities or the elderly who require home care services and/or additional financial support for medical or life planning expenses all receive help from the Live Care Foundation. As healthcare costs rise and the population of the elderly and homebound grows, Live Care Foundation is dedicated to helping to lift the burden for as many Americans as possible. Find out more at livecaregrants.org today. Rachel HarrisMs. Harris is a freelance writer and editor who enjoys reading, triathlons, and baking.
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It’s a difficult time for the world. COVID-19 has risen in numbers and fatalities, and the effects of this pandemic are being felt far and wide. Despite these hard times, people are going about doing good. One such proof of this is families finding ways to visit their elderly loved ones while maintaining social distancing, such as this Irish local meeting his grandson through a window for the first time ever. More than just family members are responding in positive ways, including members of communities like these Sikhs in Australia, who are working to reach out to the homebound and others who are most vulnerable to the virus. Obviously, people are doing their best to support one another in this unprecedented challenge. If you or a loved one fall into the group of people that are most vulnerable to the COVID-19 Coronavirus, here are some ways to make it through this period of isolation.
Stay connected Social distancing is real, and it’s never been more important for those over the age of 65 to be vigilant about staying physically isolated from the world, especially since even loved ones can carry the virus without showing symptoms. Instead of having your family over for dinner, consider doing a virtual game night with loved ones or friends. If you currently reside in a care center, try getting to a window or courtyard so you see visitors from a safe distance. As always, video chatting on apps such as FaceTime and Duo can do the trick for some quick socialization, or you can download an increasingly popular video chatting application called Marco Polo. Phone calls work, too. Just do your best to reach out and stay connected with your support system. Keep moving As any normally homebound person knows, it’s important to keep moving and to enjoy regular time outside to break the monotony. As science shows us, the benefits of being outside are both physical and mental. Lowering your blood pressure, increasing blood flow, improved memory and help in fighting depression—something we all could probably use right now—are all benefits of spending time outdoors. If you don’t have access to a way to get outside on your own, do what you can to keep moving whether that be a hallway walk or a dance party with yourself. Just keep moving and avoid a sedentary state when possible. Be gentle with yourself Even though you may not be encountering direct struggles such as infection or job loss—or even if you are—it’s important to let your feelings be felt. Much of the actual processing of feelings comes in the form of acknowledging them first. In addition to feeling anxious, overwhelmed and tired, many Americans may be experiencing grief, says David Kessler of the Harvard Business Review. What’s important is that we as a nation are able to realize that nothing will be the same, but that doesn’t mean it has to be the end of happiness or humanity, for that matter. Speaking of how things will end, remember that this won’t last forever. There is an end in sight, and how we get there depends largely on how we take each day at a time. Know that this won’t last forever Of course it’s important to stay informed, but don’t get too wrapped up in watching the news. Instead, turn to trusted sources like the CDC and the WHO to help you determine how to stay safe as the pandemic continues to develop and guidelines change. Most importantly, be willing to take a step back and enjoy life’s smallest joys and victories. While you’re taking a step back, try to see the big picture. This pandemic had a beginning, and it will have an end. And, just as Ed Yong of the Atlantic reminds us, the endgame and the aftermath will both largely depend on our presence of mind and willingness to follow social isolation guidelines, even long after they’ve gone out of style. If you’re looking for a way to spread good in the world from the comfort of your own couch, consider donating to a charitable organization such as Live Care Foundation. As a place of financial support for the homebound and elderly, Live Care Foundation supports these populations and their deserving caregivers across the United States. Donate today. Rachel HarrisMs. Harris is a freelance writer and editor who enjoys reading, triathlons, and baking. |
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