As a consumer, when I’m researching the value or benefits of a particular product or service, I rarely visit the company’s website first. Why? Because I want an unbiased opinion from consumers who have experienced that product or service. To me, if you’ve “been there, done that,” your opinion carries more weight.
The Texas A&M Foundation has seen an increase in donors using donor-advised funds (DAFs) to make charitable donations in the form of both current and planned gifts. In our May 2020 e-newsletter, we shared the article: “Top 5 Donor-Advised Fund Advantages,” which explained the benefits a DAF presents. If you read that article and weren’t convinced, we encourage you to read the responses below when we asked real Foundation donors about how and why they use a DAF to support their passions in Aggieland. Before we jump into the Q&A, let’s quickly revisit what a DAF is and the value it provides.
A DAF is often referred to as a personal charitable savings account. A donor creates an account with a sponsoring organization, which can be a nonprofit or an investment company. The donor then makes a contribution of cash, stock, or other assets like real estate and artwork, and can take an immediate charitable deduction for the gift. An adviser manages and invests the assets and works with the donor to identify charitable causes they wish to support.
Now to tell you more about DAFs from their personal experience, please meet donors Jennifer ’93 and Ken Dunphy ’92 from Beaumont, Texas, and Magda and Dr. Dimitris Lagoudas, Texas A&M University faculty members.
WHAT THEY SAID…