If so, congratulations! You’ve discovered the advantages of one of the fastest growing charitable gifts. There are nearly two million Donor-Advised Funds (DAFs), and they give about $60 billion to charitable organizations each year. 

If you don’t have a DAF, here’s how you can create your own to support charitable organizations you care about, like the Kean University Foundation.

  • You establish a DAF account at a sponsoring charity and make charitable contributions directly to the account, using cash, stock, or other assets.
  • You receive an immediate income tax deduction for the contributions to your DAF account.
  • Over time you recommend distributions from your DAF account to charities of your choice.

Some donors use their DAF as an opportunity to plan their annual giving and engage their family members in decisions about which charities to support, like a family foundation of sorts. 

What happens if there is money left in your DAF account at the end of your lifetime? Check with your DAF sponsor. In most cases you may have the option to designate Kean University Foundation to receive some or all of what remains in your DAF account. 

If you are considering supporting Kean University, a DAF may be a great way to secure tax advantages even if you do not itemize every year. We would be happy to suggest DAF fund sponsors for your review. 

If you include The Kean University Foundation in your plans, please let us know and be sure to use our legal name and federal tax ID.

Legal Name: The Kean University Foundation, Inc.

Address: 1095 Morris Avenue, Union, NJ 07083

Federal Tax ID Number: 22-2849480