Alicia and Ron Thomas, both former educators, utilize a Fidelity Charitable donor-advised fund to support the charities they care most about – we are glad the SAISD Foundation is one of those. For the Thomas’s using a donor advised fund helps track their donations in one place and simplifies their giving. To make a donation, with just a few clicks, a check is sent automatically to the charity of choice, in this case, SAISD Foundation and can be put it to use quickly. Donations can also be designated as a “one-time gift”, or a regular monthly donation. Additionally, as an investment fund that is focused on charitable giving, their fund grows tax free, giving them more money to grant to those they want to support. Additionally, donors can choose to make a gift in memory from one of these donor-advised funds.
The Chronicle of Philanthropy reports; Fidelity Charitable, the biggest fund in the United States, total grant (giving) volume is up 31 percent compared with the first four months of 2019. Fidelity Charitable officials said the recent grants (gifts) from its account holders show the utility of donor-advised funds as giving vehicles. “With the market volatility, you’d think we might see people pulling back and not supporting charity,” said Amy Pirozzolo, head of donor engagement for Fidelity Charitable. “But we see the opposite because people have irrevocably set this money aside for charity.”
As seen nationally, our grants from donor -advised funds have also increased during the pandemic for both general support and for programs like our #ConnectCampaign – that in light of school closures; the SAISD Foundation rallied community support from donors like the Thomas’ to invest in the connectivity of the “digital classroom”.
For those not familiar with donor-advised funds, Fidelity Charitable shares on its website “a donor-advised fund is like a charitable investment account, for the sole purpose of supporting charitable organizations you care about. When you contribute cash, securities or other assets to a donor-advised fund at a public charity, you are generally eligible to take an immediate tax deduction. Then those funds can be invested for tax-free growth and you can recommend grants to any IRS-qualified public charity.” As Schwab Charitable explains “a donor-advised fund account is a simple, tax-smart investment solution for charitable giving. You just set up an account with Schwab Charitable and contribute cash, securities, or appreciated assets. You’ll be eligible for a current-year tax deduction and can be more strategic about your giving decisions.”
If you have an established donor advised fund and would like to invest in students in San Antonio ISD and the work of the SAISD Foundation {(listed as: San Antonio Foundation for Excellence in Education, Inc.) (Tax ID 74-2861587)} we are available and happy to speak to you about making your initial gift to support our programs with a general grant (gift) or a specific program of your choosing.