Frequently Asked Questions
- 1. What is a Donor-Advised Fund?
- 2. Who can open a donor-advised fund account with Knights of Columbus Charitable Fund?
- 3. How much money do I need to start a donor-advised fund account?
- 4. How quickly can I create a donor-advised fund?
- 5. Can my children and family be involved with my donor-advised fund account?
1. What is a Donor-Advised Fund?
A donor-advised fund (DAF) is a philanthropic vehicle established at a public charity. It allows you to make a charitable contribution, receive an immediate tax benefit, and then recommend grants from the fund over time. Assets in a donor-advised fund can grow tax free. For the donor there are no distribution requirements, excise taxes, or reporting requirements. By starting an account with Knights of Columbus Charitable Fund (KCCF), you'll take the first important step toward maximizing your giving. Simply designate the charities to whom you want to give, and we'll take it from there.
2. Who can open a donor-advised fund account with Knights of Columbus Charitable Fund?
Individuals, families and nonprofit organizations, foundations and other entities committed to the moral teachings of the Catholic Church can start a donor-advised fund account with KCCF.
3. How much money do I need to start a donor-advised fund account?
Genesis level account holders with KCCF can get started with as little as $10/month for the first 36 months. Once your account is established and you have transitioned to a Covenant level account (compulsory after 36 months).
4. How quickly can I create a donor-advised fund?
At KCCF, it takes less than 15 minutes to complete the application and less than 24 hours for your account to activate. Once you submit a completed application, your account is established and ready to receive contributions.
5. Can my children and family be involved with my donor-advised fund account?
Yes. We want to support you in building a familial culture of generosity and charity. You can name children as advisors or successor advisors to your account. They can legally assume these roles as soon as they are 18 years old.
Contact us to learn more about KCCF.