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What is a Donor-Advised Fund with Paramount Impact?

What Is a Donor-Advised Fund (DAF)?

A Donor-Advised Fund (DAF) is a charitable giving vehicle that allows individuals, families, or organizations to make tax-deductible contributions to a public charity, such as Paramount Impact, and recommend grants to qualified nonprofits over time. Managed by Paramount Impact, a 501(c)(3) public charity, DAFs offer a flexible, strategic way to support causes you care about while maximizing tax benefits.

How Does a DAF Work with Paramount Impact?

Paramount Impact’s DAF program simplifies philanthropy by providing a structured yet flexible approach to giving. Here’s how it works:

  1. Contribute to Your DAF: Donate cash, stocks, or other assets to a DAF account with Paramount Impact. Contributions are irrevocable and immediately tax-deductible.

  2. Invest for Growth: Funds in your DAF can be invested, potentially growing tax-free to increase your charitable impact.

  3. Recommend Grants: Advise Paramount Impact on which qualified 501(c)(3) organizations should receive grants from your DAF. Grants can be made at your preferred pace and timing.

  4. Support Diverse Causes: Use your DAF to support Paramount Impact’s initiatives, such as education, community development, or other nonprofits aligned with your values.

Benefits of a DAF with Paramount Impact

  • Tax Advantages: Receive an immediate tax deduction for contributions, with the ability to spread grants over time.

  • Simplicity: Paramount Impact handles administrative tasks, including due diligence on grant recipients and compliance with IRS regulations.

  • Flexibility: Recommend grants to any IRS-qualified public charity, locally or nationally, at your convenience.

  • Legacy Building: Establish a lasting charitable legacy for yourself or your family, with options to name your DAF or involve future generations.

  • Impact Amplification: Invested funds may grow, enabling larger or more frequent grants to causes like those supported by Paramount Impact, such as empowering families and individuals in need.

How to Set Up a DAF with Paramount Impact

  1. Contact Paramount Impact: Reach out via the contact form at paramountimpact.org or email info@paramountimpact.org to express interest.

  2. Complete the DAF Agreement: Work with Paramount Impact’s team to establish your fund, including naming your DAF (e.g., “The Smith Family Fund”) and designating advisors.

  3. Make an Initial Contribution: Fund your DAF with a minimum contribution (typically specified by Paramount Impact, contact for details).

  4. Start Recommending Grants: Once your fund is established, log in to Paramount Impact’s donor portal to recommend grants or manage your account.

Why Choose Paramount Impact for Your DAF?

Paramount Impact, organized in 2024 as a 501(c)(3) public charity (EIN 99-3609530), is dedicated to empowering communities through education, philanthropy, and support for underserved populations, including individuals with disabilities, those experiencing homelessness, and families in poverty. By choosing Paramount Impact for your DAF:

  • You align with a mission-driven organization led by experienced professionals, such as Michael Glover, who has overseen $1 billion in committed funds across nonprofit and family office sectors.

  • You support a young, dynamic nonprofit focused on scalable, meaningful change, as evidenced by initiatives like providing educational supplies to homeschooling families.

  • You gain access to a streamlined donor portal and personalized support to ensure your giving aligns with your values.

Frequently Asked Questions

  • What assets can I contribute to a DAF? Cash, publicly traded securities, mutual funds, and certain complex assets (subject to Paramount Impact’s approval).

  • Is there a minimum contribution? Contact Paramount Impact for current minimums, as these may vary.

  • Can I recommend grants anonymously? Yes, you can choose to make grants anonymously through your DAF.

  • How are DAF investments managed? Paramount Impact works with financial advisors to offer investment options tailored to your risk tolerance and charitable goals.

Get Started Today

Ready to make a lasting impact? Visit paramountimpact.org/daf or contact Paramount Impact at info@paramountimpact.org to open your Donor-Advised Fund. Join a community dedicated to fostering growth, education, and positive change through strategic philanthropy.