Client contributions
Resources to share with your clients about making contributions to their DAF account.
Once your client has accepted their invitation to your firm's DAF program, they are free to make contributions to their giving account directly.
As an advisor, you can assist your client to complete the following types of contribution:
Clients can also make the following contributions independently:
With a linked bank or debit/credit card, clients have the option to schedule recurring contributions.
Does your client have questions about making an independent contribution to their DAF account?
Your client is encouraged to visit the Charityvest Guidebook or contact Charityvest support via email: support@charityvest.org
Bank account
For clients, it is simple and free-free to donate cash to their giving account independently from a linked bank account. To complete a bank account contribution, they can follow the instructions provided in the Charityvest public guide.
Contributions made before 5:00 p.m. EST will become available in your client's giving account balance on the following business day. Additional time may be required for newly linked bank accounts.
Note: The Charityvest for Advisors platform limits client linked bank contributions to $25,000 per week. This limit resets every Sunday. If your client would like to extend their limit to $100,000 per transaction, they can provide basic personal information in-app to verify their account.
Debit / credit cards
For clients, it is convenient, secure, and instant to donate cash to their giving account independently from a linked credit or debit card. It may also earn them some valuable rewards points! To complete a credit or debit contribution, they can follow the instructions provided in the Charityvest public guide.
Successful contributions made via credit and debit card post instantly to your client's giving account balance, and are immediately available for grants.
Processing fees
We partner with Stripe to accept a wide variety of credit and debit card brands, both U.S. and international. Stripe offers reduced fees on our credit and debit card processing:
2.2% and $0.30 on all U.S. cards, except American Express
3.5% and $0.00 on U.S. American Express cards
3.2% and $0.30 on international cards
When your client makes a contribution to their giving account using a card, they will be asked to enter the amount they would like to contribute to their fund. This is the amount that will be available for giving after the transaction.
Based on the card type they choose, we will calculate the fee to be charged by Stripe, and determine a total amount that will be charged to their card. This amount will be greater than the amount available for giving.
The full value of the amount charged to their card (i.e., amount available for giving, plus processing fee) is considered a tax-deductible gift and will be reflected on their annual tax statement.
Cryptocurrency
For clients, it is a seamless process to donate cryptocurrency to their giving account independently. Cryptocurrency donations offer many of the benefits of long-term publicly traded stock giving, with the speed and certainty of the blockchain.
To complete a cryptocurrency contribution, they can follow the instructions provided in the Charityvest public guide.
Tax considerations
For cryptocurrency, we furnish the mid-market price of the asset on the exchange received at the time the exchange considers the transaction successfully confirmed on the blockchain.
Ultimately, it is your client's responsibility as the taxpayer to accurately represent and claim a tax deduction on their income taxes; all information provided is for convenience only.
For more detail, you can direct your client to the appreciated asset tax matters section provided in the Charityvest public guide.
DAF transfers
For clients, it can be easy to move some or all of their existing donor-advised fund assets to their account within your firm's giving program.
To complete a DAF transfer independently, they can follow the instructions provided in the Charityvest public guide.
Wire transfers
Your clients may wish to contribute cash via wire transfer to their account within your firm's giving program.
To complete a wire transfer contribution independently, they can follow the instructions provided in the Charityvest public guide.
Checks
Your clients may wish to contribute cash via paper check to their account within your firm's giving program.
To complete a wire transfer contribution independently, they can follow the instructions provided in the Charityvest public guide.
Complex assets
Your clients may wish to independently contribute a variety of complex assets to their account within the your firm's giving program, including:
Private / Pre-IPO Stock
LLC and Limited Partnership interests
Private Equity, Hedge Fund, and Venture Capital Fund interests
Real Estate
Life Insurance
Retirement assets
Royalties
For specialized donations, Charityvest for Advisors partners with a purpose-built complex gift acceptance firm to receive, report, custody, liquidate, and distribute proceeds for such assets. Our partner firm, Charitable Solutions, has nearly two decades of experience and has processed nearly $4.5 billion in non-cash gifts from individual donors into their donor-advised funds at various sponsors.
How it works
As early as practical, request an introduction. Your client may request an introduction to Charitable Solutions via their giving account. They will need to fill in any available details regarding the possible donation.
Receive consultation on gift process, timing, and fees. Charitable Solutions will cover the process and potential transaction with your client including a timeline and gift processing fees. There is no cost or obligation to receive this consultation.
Charitable Solutions receives and liquidates the donation, transferring proceeds to the client's account. Once the asset is sold, the proceeds will be posted to your client’s giving account, net of processing fees, and will be available for granting. Charitable Solutions will provide gift acknowledgment to substantiate the donation for tax purposes.
Partner fees
Charitable Solutions assesses an industry-standard fee for service of 1-3% on complex asset donations, with a minimum fee of $10,000. There is no cost or obligation to receive the initial consultation.
Timing
We recommend that your client completes the contribution request form for complex assets as early as possible, once they have determined that they are reasonably likely to initiate a contribution.
To initiate a complex asset contribution independently, they can follow the instructions provided in the Charityvest public guide.
Company matches
Your clients may by employed by a company that offers a charitable matching program, in which case they may be eligible to have their grantmaking matched by their employer.
Generally, companies either match their employee donations to their donor-advised fund account, or their employee's grant from their DAF once it is approved and sent - but not both.
To learn more about how to submit for a company match independently, they can follow the instructions provided in the Charityvest public guide.
Recurring Contributions
If your client wishes to make a monthly commitment to set money aside for charitable giving, a recurring contribution via linked bank or debit/credit card can help them achieve their giving goals, automatically.
To set up a recurring monthly contribution, they can follow the instructions provided in the Charityvest public guide.
Curious to learn more about your firm's custom DAF program? Contact your firm's program manager for program-related matters or Charityvest (support@charityvest.org) for platform-related matters.
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