When the magnitude of the COVID global crisis was realized, those with DAF accounts had immediate access to funds that could be sent to charities on the front lines of the crisis. Like most crises, once disaster strikes, charities often receive an initial flood of donations and then those donations slow down. Donors with DAF accounts have the ability to provide both short- and long-term support, which is needed during the lifecycle of a disaster. There are four phases of disaster relief, which you can see in the graphic below. Each phase can have a slightly different charitable focus.
Giving through a Vanguard Charitable DAF makes your giving go further.
Many people decide to give through a donor-advised fund because it’s an effective and strategic tool that maximizes charitable impact. Savvy donors choose us because we have the most convenient, cost effective, and impactful DAF available, that’s backed by high performing and broadly diversified Vanguard investments.
Here’s how it works. You open an account. When the account is funded, you recommend investment options that support your charitable growth goals. Then over time, you can grant to any number of charities. We keep our all-in fees low without sacrificing investment performance. Our low fee structure becomes even more important during a crisis because fewer dollars are taken up by fees. (That means more dollars to support relief efforts!)
Plus, working with us alleviates the administrative burden and time required to invest assets, conduct due diligence, and issue grants. It allows you to focus on your long-term charitable goals while still keeping funds available for immediate need.
Are you ready to get started? Let’s talk.
Giving during a crisis can often feel rushed. But granting during these pivotal times can be done thoughtfully if you have an established charitable plan. This gives you something to reference when you feel the need to grant quickly. If you don’t have a plan or disaster relief was not part of the plan, it’s not too late. Plans can be easily created or edited to include disaster-relief support.
The three worksheets below can be read now or downloaded to share with others.
Review or create a mission statement.
Evaluate budget and choose what to give.
Pick charities to advance your mission.
Would you like to see how others have granted in times of great need? Read this blog about our donors and how they used their DAFs to support disaster relief.