The Steelcase Foundation Board of Trustees approved the extension of personal funds to include Donor Advised Funds (DAF) for the Matching Gifts Program. Starting now and until April of 2019, the matching gifts program will allow donations to be made from personal donor-advised fund accounts. Current program guidelines are that gifts may be in the form of cash, check, credit card or stock/publicly traded securities and must be made from personal funds which now includes DAFs. After one year, this pilot program will be evaluated and closed or renewed.
Eligible contributions include those made out of a charitable gift, donor advised, community foundation or family fund to an eligible non-profit distributed from an established fund set-up by the employee/retiree/director in his or her name.
What is a Donor-Advised Fund?
An easy way to think about a donor-advised fund or DAF is like a charitable savings account: a donor contributes to the fund as frequently as they like and then recommends grants to their favorite charity when they are ready. A DAF is a philanthropic vehicle established at a public charity in the name of the individual. It allows donors to make charitable contributions, receive an immediate tax benefit and then recommend donations from the fund over time. While the advent of DAFs is traced to the 1930s, popularity of their use has increased significantly over the last decade.