They’re the largest DAF in the world and have efficient internal processes. They approve pretty much everything and if it’s new or controversial to them, they get back to you quickly.
They make direct transfers to the charity’s bank account. You don’t want some check just flying around. Many banks send off paper checks. No need for that nonsense.
They also handle cryptocurrency, which is nice. There may be some extra paperwork, but it’s largely quite useful.
Their fees are low. If you quickly donate from your account anyway, there’s nothing to really get hit with. If you leave funds in there, minimal investments should cover any fee. Remember that the job of a DAF is not to have it sit around and make more money. You do that with investments before they go into the DAF.
They make it easy to transfer assets to the DAF from other banks. If you use Fidelity already, it’s even easier. They even have a tool that lets you see the most tax-efficient stocks to give (It looks at the most appreciated stocks you’ve held over a year).
Bonus tip: Don’t forget to set a charitable beneficiary for your DAF, just as you can do for any other financial account.
I consistently recommend Fidelity to others when talking about DAFs. Here’s an article I did on DAFs.
Why Fidelity Charitable?
They’re the largest DAF in the world and have efficient internal processes. They approve pretty much everything and if it’s new or controversial to them, they get back to you quickly.
They make direct transfers to the charity’s bank account. You don’t want some check just flying around. Many banks send off paper checks. No need for that nonsense.
They also handle cryptocurrency, which is nice. There may be some extra paperwork, but it’s largely quite useful.
Their fees are low. If you quickly donate from your account anyway, there’s nothing to really get hit with. If you leave funds in there, minimal investments should cover any fee. Remember that the job of a DAF is not to have it sit around and make more money. You do that with investments before they go into the DAF.
They make it easy to transfer assets to the DAF from other banks. If you use Fidelity already, it’s even easier. They even have a tool that lets you see the most tax-efficient stocks to give (It looks at the most appreciated stocks you’ve held over a year).
Bonus tip:
Don’t forget to set a charitable beneficiary for your DAF, just as you can do for any other financial account.