DAF: The Donors Fund vs The OJC Fund

[yuneeq]

Not a fan of TDF. Difficult to reconcile if at all. Online checks and prepaid paper checks are debited instantly, but many are uncashed and never get canceled. Try finding this info and it’s impossible. Was recommended to use Fidelity but I’m open to shopping around. From what I understand the small dollar checks are only doable through the smaller heimeshe places so I might keep TDF for Purim money.

[ushdadude]

Not a fan of TDF. Difficult to reconcile if at all. Online checks and prepaid paper checks are debited instantly, but many are uncashed and never get canceled. Try finding this info and it’s impossible. Was recommended to use Fidelity but I’m open to shopping around. From what I understand the small dollar checks are only doable through the smaller heimeshe places so I might keep TDF for Purim money.

The main reason I chose them over one of the big guys is smaller grant minimum. And cheaper. Iyh one day when all my checks are 500+ I can consider switching

[aygart]

Not a fan of TDF. Difficult to reconcile if at all. Online checks and prepaid paper checks are debited instantly, but many are uncashed and never get canceled. Try finding this info and it’s impossible. Was recommended to use Fidelity but I’m open to shopping around. From what I understand the small dollar checks are only doable through the smaller heimeshe places so I might keep TDF for Purim money.

I think that they now have expiration dates and should go back on the account

[whacked1]

I opened an account with TDF, but I see in order to get the current market value of a stock donation you need to own the stock for a full year prior to donating. Are all the others the same?

[jackofall]

I opened an account with TDF, but I see in order to get the current market value of a stock donation you need to own the stock for a full year prior to donating. Are all the others the same?

IRS rules in order to get a step up in basis. Without the free step up there is no point in donating the stock.

[ari3]

I opened an account with TDF, but I see in order to get the current market value of a stock donation you need to own the stock for a full year prior to donating. Are all the others the same?

You will get the full current market value but as per IRS regulations you won't get the full tax deduction unless the holding period is a year

Without the free step up there is no point in donating the stock.

not neccesarily so. You still don't pay taxes on the gain, and the gain doesn't count as your income (can be relevant for various resaons)

[sguitarist18]

IRS rules in order to get a step up in basis. Without the free step up there is no point in donating the stock.

-1

not neccesarily so. You still don't pay taxes on the gain, and the gain doesn't count as your income (can be relevant for various resaons)

+1 - especially true for many people who don't itemize!

The main reason I chose them over one of the big guys is smaller grant minimum. And cheaper. Iyh one day when all my checks are 500+ I can consider switching

Schwab Charitable has a $50 minimum.

[ari3]

but many are uncashed and never get canceled.

I have been using TDF since they started and IME it is a very small percentage of checks that don't get cashed eventually. (Although I don't use the very small denominations because I would assume more of those don't get cashed and those are only prepaid)

Try finding this info and it’s impossible.

the info is there but admittedly hard to find

Was recommended to use Fidelity but I’m open to shopping around. From what I understand the small dollar checks are only doable through the smaller heimeshe places so I might keep TDF for Purim money.

Fidelity won't help you for the meshulach at the door, the guy collecting in shul etc.. Fidelity is good for preplanned donations to established organizations.

[ari3]

Schwab Charitable has a $50 minimum.

Fidelity is a $50 minimum as well

[whacked1]

You will get the full current market value but as per IRS regulations you won't get the full tax deduction unless the holding period is a year
not neccesarily so. You still don't pay taxes on the gain, and the gain doesn't count as your income (can be relevant for various resaons)

Ah, so i'm only not getting the deduction on the gains overs my basis unless holding is a year?

[yuneeq]

I think that they now have expiration dates and should go back on the account

If referring to online checks have seen them remain open for over a year

[yuneeq]

I have been using TDF since they started and IME it is a very small percentage of checks that don't get cashed eventually. (Although I don't use the very small denominations because I would assume more of those don't get cashed and those are only prepaid)
 
the info is there but admittedly hard to find

Oh, that is most certainly incorrect. I probed every part of the site, found more than 1k in checks over 3 months showing as unpaid some of it dating more than a year ago. Then after contacting them they updated the system and it showed $150 in checks unpaid. When I asked about a check that updated to "paid", they said they see it unpaid on their end. Another time a check showed unpaid, and shul kept sending an invoice. After calling up CS, found out it was actually paid. And if they ever credited back canceled/unpaid checks, I have yet to see an entry for it.

It's basically a mess, WYSINWYG.

[David61]

According https://www.nptrust.org/reports/daf-report/ there are close to 1000 DAFs.

There are some new ones that have been advertising in the Jewish Media, that cater to people who want to make smaller donations, such as Matbia (matbia.com)

And some of the larger DAFs seem to be following that trend by allowing smaller donations like

• RCF's MyDAF account https://www.rcfgivingfund.org/
• Daffy  https://daffy.org/resources, and
• https://www.nycommunitytrust.org/

I personally prefer the transparency of a set fee, over letting the DAF keep proceeds of contributions not cashed by the charity, and not knowing how much that wastage adds-up-to.

[ushdadude]

According https://www.nptrust.org/reports/daf-report/ there are close to 1000 DAFs.

There are some new ones that have been advertising in the Jewish Media, that cater to people who want to make smaller donations, such as Matbia (matbia.com)

And some of the larger DAFs seem to be following that trend by allowing smaller donations like

• RCF's MyDAF account https://www.rcfgivingfund.org/
• Daffy  https://daffy.org/resources, and
• https://www.nycommunitytrust.org/

I personally prefer the transparency of a set fee, over letting the DAF keep proceeds of contributions not cashed by the charity, and not knowing how much that wastage adds-up-to.

is that what happens?

[ushdadude]

Schwab Charitable has a $50 minimum.

Fidelity is a $50 minimum as well

thye changed since I last reasearched

[ushdadude]

One reason I signed up with TDF was to be able to remain anonymous when giving using their card on a website. It seems pretty limited right now though.

Hi there,

Please see a list below of our current integrations thus far (some of them are still being worked on).

Our goal and mission are to continue integrating with as many platforms as possible and really appreciate your patience on this journey


Fundraising sites
 
Crowd Change     crowdchange.co
Fast Track Digital     fasttrackdigital.net
Advanced Data Software     https://advanceddata.org/
Helpme Fund     helpmefund.org
JLS Solutions     http://jlssolutions.com/
FeatureComm - Phone donations     FeatureComm.com
Donary Platforms     donary.com
Neon Fundraise     neonone.com
Tzvek     tzvek.com
Daily Giving     dailygiving.org
Cause Match     www.causematch.com
RaiseThon     raisethon.com
Charity Extra     charityextra.com
duvys.com / Rayze.It     rayze.it
Dryveup     dryveup.com
Charidy     charidy.com


Credit card processing companies 
 
Sequel Pay
Merch Pay
Orange Pay
Clover
Donary
Fidelity Payments
Banquest

When I asked to clarify,

Them:Please take a look at the parenthesis which specifies we are still working on some of these integrations. Merch Pay integrations is not yet complete
ME:got it. so which are complete?

Them: Rayze it, Charidy.com, Charityextra, Dryveup, Raisethon, Donary, Orange Pay, Fidelity payments

Hopefully they will be integrated soon enough
 

[David61]

thye changed since I last reasearched

Both Fidelity-charitable and Schwab-charitable seems to have no minimum balance but still seems to have a $50 minimum to grant to a charity; see
https://www.fidelitycharitable.org/giving-account/what-it-costs.html
https://www.schwabcharitable.org/features/fees-and-minimums

[David61]

is that what happens?

It depends which ones. I understand that is what happens if you buy the prepaid coupons to hand out to Mishulachim. Those are like cash. You lose them or they are not cashed, you lose.
Fidelity credits you back if the organization is not approved or cashes the check.

[David61]

Another (seemingly) new D.A.F. which was recently advertising in the Frum Media is https://pledgercharitable.org/

[ushdadude]

It depends which ones. I understand that is what happens if you buy the prepaid coupons to hand out to Mishulachim. Those are like cash. You lose them or they are not cashed, you lose.
Fidelity credits you back if the organization is not approved or cashes the check.

Interesting point. May be with getting more blank books and just writing a low denomination in