Supporting UPrep Through a Donor-Advised Fund
What is a Donor-Advised Fund?
A Donor-Advised Fund (DAF) is a charitable giving account that is managed by a sponsoring organization such as Seattle Foundation, Fidelity Charitable, or Schwab Charitable. Once a DAF is established, you and your designated representatives can recommend how funds are invested and distributed to various charities, including UPrep.
Benefits of Using a Donor-Advised Fund
- Immediate Tax Benefits – Contributions to a DAF are tax-deductible in the year they are made.
- Flexible Giving – Recommend grants at your convenience to support UPrep’s needs.
- Simplified Philanthropy – A DAF provides an easy way to diversify your charitable giving while avoiding the complexities of managing a private foundation.
How to Support University Prep with a Donor-Advised Fund
There are two primary ways to support UPrep through your DAF:
- Recommending Grants – During your lifetime, you can recommend grants from your DAF to support UPrep’s mission. When making a grant recommendation, please reference UPrep’s tax ID number: 91-0974344.
- Beneficiary Designation – You may designate UPrep as a beneficiary of your DAF, ensuring that your philanthropic legacy continues to support our students and programs beyond your lifetime.
Each sponsoring organization has its own process for making grants from a DAF. Typically, you can initiate a grant recommendation through an online portal or by working with your fund adviser.
Restrictions on DAF Distributions
Per IRS regulations, DAF distributions cannot be used to pay for tickets to fundraising events, galas, or any contributions that provide more than incidental benefits to the donor. Please consult your DAF sponsor for specific guidelines.
Making a Donor-Advised Fund Gift to UPrep
To recommend a grant from your DAF to UPrep, please provide the following information to your sponsoring organization:
- Legal Name: University Prep
- Federal Tax ID: 91-0974344
- Mailing Address: 8000 25th Ave NE, Seattle, WA 98115
- Gift Designation: Specify the area or program you wish to support (if applicable).
If you have any questions about supporting University Prep through your donor-advised fund, please contact development@universityprep.org.
