Donor-Advised Funds
A Donor-Advised Fund (DAF) is a giving account that provides you with the ability to support organizations and issues you care about most while also receiving immediate tax benefits. Donor-advised funds are an efficient and cost-effective alternative to private or family foundations. With North Star Fund, your donor-advised fund can move resources quickly to support grassroots organizing and social justice when and where it’s needed most.
Why Choose North Star Fund?
At North Star Fund, we have our finger on the pulse of community organizing and grassroots activism in New York. Our community centered grantmaking process often reveals emerging movements before they are widely known. If you’d like help finding groups doing good work in specific arenas, North Star Fund can help you direct your money to those issues.
In our 2021-22 fiscal year, our DAF holders moved $9.3 million in over 600 grants via over 50 funds. Grants ranged from $1,000 to $250,000 and included organizations across New York as well as across the United States.
We’ve partnered with the Amalgamated Charitable Foundation and are able to offer you access to a state-of-the-art donor-advised fund platform. Your fund would be supported by Amalgamated and North Star Fund’s combined financial expertise and unique, shared commitment to social change. Plus, our expanded pool of investment options mean that while you decide on grants, you can invest your funds in a vehicle consistent with your values.
Give
Establishing a Donor-Advised Fund is simple.
Open your fund with a gift of cash or other assets, and take advantage of an immediate tax deduction for your gift. You may add to your fund over time; the minimum to open a Donor-Advised Fund with North Star Fund is $1,000.
Invest
Your fund assets can grow tax-free.
Your contributions are maintained in pooled, professionally managed portfolios held by Amalgamated Charitable Foundation. When you open your fund, you will have the choice of keeping your contributions as cash or placing all or a portion of it into one of several market-based investment options.
Grant
You have the power to recommend grants at any time.
Using our all-new online portal, you can submit grants to eligible nonprofits inside or outside New York. We take care of all the paperwork, due diligence, and necessary reporting. Grants are awarded within five business days.
Open Your Donor Advised Fund Today
Reach out to Kofo@Northstarfund.org and we’ll get you set up
Benefits of a DAF with North Star Fund
Expert Guidance
You get the full support of an established team with connections to justice movement leadership in New York and nationally. Meanwhile, your fund’s dollars are managed by Amalgamated Charitable Foundation in responsible investment options
A Larger Deduction, Now
You may deduct up to 60 percent of your adjusted gross income. By comparison, for contributions to a private foundation, the limit is 30 percent.
A Tax Deduction This Calendar Year
You get an immediate tax deduction for contributions to the fund even though you can make grant decisions later.
Flexibility
You recommend grants when you’re ready. You can make regularly-scheduled grants or respond immediately to urgent issues. You can support local work or contribute to national entities all while being as visible or anonymous as you like.
Simplicity
We simplify your record keeping by providing you with the necessary tax acknowledgements and easy-to-read statements. All your grantmaking is covered by a small fee for the service.
Have more questions?
Check out our FAQ page or reach out to Kofo@Northstarfund.org if you need more help.