How We Give: Highlighting Donor Advised Funds

Generations of partners have built Grand Rapids Community Foundation through gifts of many shapes and sizes. In the “How our partners give” series, we will highlight donor partners who are committed to carrying this legacy into the next one hundred years by making gifts that accomplish their specific philanthropic goals. The variety of donor partners and gifts come together to create change and improve West Michigan. This is community at work and love in action!

For many years, Donor Advised funds have been a popular and efficient way for donor partners to support the causes they care about. A DAF, whether established at the Community Foundation or another institution, allows the founder to leave their mark by making grants to nonprofit organizations while receiving tax advantages.

When deciding to create a DAF, you might consider the level of personal support, access to local expertise or fees associated with the administration of the fund. Setup time for a DAF can be quick, often through an existing financial institution you work with, but grantmaking support and community knowledge varies, especially if the provider does not have roots in West Michigan.

Many Community Foundation donor partners have established DAFs with another institution, but still prioritize support for Community Foundation initiatives. For Tom and Sally Kyros, a DAF connected to their investment account streamlined their giving to nonprofit organizations they support through the year.

Beginning in 2019, gifts from Tom and Sally’s DAF built the Tom and Sally Kyros Fund at the Community Foundation. The unrestricted fund joins many others used to meet our region’s most pressing needs.

If you have an existing DAF, you can use it in several ways to support the Community Foundation’s work. Gifts can be directed to an existing Community Foundation fund or granted to establish a fund of your own, like an unrestricted fund. When establishing your DAF, you might also consider including the Community Foundation as a beneficiary of the account at the passing of the last advisor, so your philanthropic legacy continues locally.

IN 2023, 47 DONOR PARTNERS GAVE TO THE COMMUNITY FOUNDATION THROUGH A DAF HOSTED BY ANOTHER INSTITUTION WITH GIFTS TOTALING MORE THAN $300,000.

• 19 different Community Foundation funds were supported by these gifts.

• 38% of gifts were directed to the Fund for Community Good, our unrestricted fund.

PERSONAL APPROACHES TO GIVING THROUGH A DAF:

Through the Thomas and Tracy Breihof Charitable Fund longtime donor partner Tracy Breihof supports Our LGBTQ Fund. These gifts, combined with support from other Our LGBTQ Fund Leadership Circle donor partners, ensures the sustainability of the fund into the future. In 2024, Our LGBTQ Fund celebrates 10 years of providing a safe, welcoming and healthy environment for LGBTQ+ communities in West Michigan.

Donor Advised funds offer individuals, couples and families a strategic and efficient way to make a meaningful impact. By partnering with the Community Foundation, that impact can be locally targeted. The Community Foundation is honored to support donor partners in discussing, establishing or adapting their philanthropic investments. To start a conversation, contact the development team at 616.454.1751.