How thoughtful planning can help your charitable giving continue for generations.
A donor advised fund (DAF) is a meaningful way to support the causes and organizations you care about. But have you considered what happens to your fund after your lifetime?
With thoughtful planning, your generosity can continue making a difference for generations, whether through family involvement, ongoing support for favorite nonprofits, or a lasting charitable endowment.
Continuing Your Legacy Through Successor Advisors
When you establish a donor advised fund at Rancho Santa Fe Foundation, you can explore options for how your charitable giving will continue after your lifetime.
One option is to name a successor advisor, such as a spouse, child, grandchild, or another trusted individual, who can continue recommending charitable grants*.
This provides an opportunity to involve future generations in philanthropy and pass along the charitable values that matter most to you.
Exploring Donor Designated Funds and Endowments
Not every donor wants future generations to be involved in grantmaking decisions. Some prefer to ensure that specific organizations or causes they are passionate for continue receiving direct support.
Donor designated funds allow you to identify one or more nonprofit organizations to receive charitable support according to your fund’s terms. Establishing a designated fund during your lifetime also allows you to begin seeing your generosity in action, build relationships with the organizations you support, and witness the early impact of your charitable legacy.
Endowments are designed to provide ongoing charitable support through long-term investment and spending strategies. They can help sustain the causes and organizations you care about for generations.
These options can also work together. For example, a donor designated fund can be structured as an endowment, providing long-term support for a favorite nonprofit.
Depending on your fund agreement and Foundation policies, you may also be able to arrange for remaining donor advised fund assets to support a designated fund or endowment after your lifetime.
Bringing Your Advisors Into the Conversation
Charitable legacy planning is most effective when it’s part of your broader financial and estate planning conversations.
Your financial advisor, estate planning attorney, and tax professional can help you consider how charitable giving fits into your overall plans. Rancho Santa Fe Foundation complements their expertise by helping you explore charitable fund options, identify opportunities to support the causes you care about, and document your philanthropic intentions.
Working together can help ensure your charitable goals are thoughtfully integrated into your plans for the future.
Planning Today for Tomorrow’s Impact
Whether you hope to involve your family in future grantmaking, continue supporting a favorite nonprofit, or establish a lasting endowment, reviewing your charitable plans today can help ensure your giving reflects your long-term intentions.
If you already have a donor advised fund, consider reviewing your successor advisor designations and discussing whether your current arrangements reflect your wishes. If you’re exploring charitable giving options for the first time, think about the causes and organizations you’d like to support, both now and in the future.
At Rancho Santa Fe Foundation, we work alongside donors, families, and their professional advisors to explore how donor advised funds, donor designated funds, and endowments can help accomplish their charitable goals.
You don’t have to wait to begin building your legacy. By establishing a charitable fund during your lifetime, you can experience the impact of your generosity today while creating a foundation for giving that continues into the future.
Whether you’re reviewing your own charitable plans or helping a client consider their philanthropic legacy, Rancho Santa Fe Foundation welcomes the opportunity to work with you and your professional advisors.
Contact Rancho Santa Fe Foundation at connect@rsffoundation.org to discuss your charitable goals and explore your options.
This article is for informational purposes only and is not intended as legal, tax, or financial advice. Fund succession options depend on applicable fund agreements and Foundation policies. Please consult your professional advisors regarding your individual circumstances.
* Subject to your fund agreement and RSF Foundation policies.
