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PHILANTHROPIC LEGACY

A great dividend of financial success is the pleasure of giving back to your community to benefit a number of your charitable interests.  Giving back not only yields important financial benefits for you, your family and your heirs, it also makes the world a better place for future generations.

 

WHAT IS A DONOR ADVISED FUND?

The Heart of Illinois United Way Donor Advised Fund* will make it simple for you to establish a meaningful, philanthropic legacy and strategy.  As you make contributions to your fund, you will receive an immediate tax benefit and then have the opportunity to provide charitable gifts over time.

  

HOW DOES A DONOR ADVISED FUND WORK?

When you give an initial gift of cash or other assets valued at $25,000 or more to the Heart of Illinois United Way Donor Advised Fund, you are actually making an irrevocable donation to the Heart of Illinois United Way who operates the fund. These assets are used to fund an account in your name, and you receive a charitable tax deduction at the time of your donation.  When you decide to give to a specific charity, you will work with the Heart of Illinois United Way to process your grant payment.

 

 

 

 

 

 

 

HOW WILL YOU BENEFIT?

  • You receive an immediate tax benefit.
  • Gifts from your fund can be made in the name of your fund or in the name of your choice.
  • Your assets can grow through your choice of seven investment options, which allows you to give more as your fund grows.
  • Available 24/7, our secure online donor system allows you to monitor your fund's activity and request grant payouts.
  • Since Heart of Illinois United Way manages all of the paperwork, making your charitable investments is easier with less administration for you.

 

Contact Stephen Peterson at 309-674-5181 or Stephen.Peterson@local.unitedway.org any questions.

 

*A donor advised fund is an account established with a qualified charity (e.g. Heart of Illinois United Way) that permits the donor the right to make certain non-binding recommendations to the charity with respect to the fund’s administration. Heart of Illinois United Way is the "Sponsor" of each such fund.

 

The donor or advisor to a donor advised fund account will be able to recommend grants to other charities out of the donor advised fund and also recommend how the account is invested.

 

A donor’s contributions to a donor advised fund are irrevocable and are eligible for a charitable deduction.  Grants out of a donor advised fund to other charities do not give rise to a further tax deduction.