Legacy Giving
Opening a fund with SDSCF is an easy way to launch your philanthropy strategy. In addition to offering a wide variety of funds, we handle the due diligence, issue checks, and provide staff assistance through a wide range of donor services.
Donor Advised Funds
Minimum opening gift: $5,000
By creating a donor-advised fund, you can organize all of your charitable activities through one expertly managed, cost-effective charitable vehicle. Your gift qualifies for an immediate tax deduction, and you can take your time deciding which organizations to recommend for grants. You’ll receive expert advice from SDSCF that will provide you with in-depth knowledge to help you set goals, develop your charitable giving strategy and administer grants. You can name your donor-advised fund.
A Donor-Advised Fund (“DAF”) allows a donor to make a charitable contribution into a separate Fund at the San Diego Seniors Community Foundation, lock in a tax deduction in the year given, and then recommend grants from their Fund to nonprofit organizations of the donor’s choosing.
A gift to a donor-advised fund is a gift to a public charity because a donor-advised fund is, by definition, “owned and controlled” by a public charity. And for federal income tax purposes, this is good news, thanks to the highly favorable deductibility rules that apply to an individual’s lifetime gifts to public charities.
Setting up a DAF is quick and easy, and is an inexpensive and effective way for you to support your favorite charitable causes in an efficient manner. You can add to your donor-advised fund whenever you want.
Donors that set up a DAF are given “advisory rights” on grantmaking from their Fund. This enables you to direct your giving through one expertly managed and cost-effective vehicle. You choose which nonprofit agencies to support, how much to distribute, and when.
Endowment Funds
Minimum opening gift: $50,000
Endowed funds are a way for you to support your favorite charities or causes forever, creating a lasting legacy. This allows you to participate in helping SDSCF in our work to elevate the lives of older adults, ensuring every senior has someone they can turn to and trust. SDSCF makes grants to the most effective local nonprofit organizations in the names of citizens who have established named endowment funds with us. The income earned from named endowed funds provides the venture capital for long-term solutions that challenge our older adults.
An Endowment Fund is an enduring asset designed to last in perpetuity, providing the advantage of long-term sustainable revenue benefiting one or more nonprofit organizations. When a donor sets up an endowment fund, the original gift amount is permanently restricted by the donor, and as such cannot be expended for operational support, programs, or grant awards. The endowment assets are strategically invested, and only the investment earnings may be spent.
Endowment funds are required by law to be managed in a prudent manner, ensuring that investment assets are well-diversified and professionally managed. Endowment investments are designed to produce sufficient income to grow the endowment principal against inflation and also provide a targeted annualized income that is available for grantmaking or for operational support for a charitable organization.
Unlike donations that must be raised year after year, initiating and growing an endowment fund has the advantage of securing a permanent asset that provides ongoing long-term earnings for the charitable institution. Those earnings may be designated by the donor for specific programs or undesignated so that earnings may be used for general operating expenses. A well-managed endowment provides a stable and perpetual source of income.
Contact SDSCF to discuss the benefits of establishing a donor-advised fund to help support our mission.
619-684-9114
