Donor-Advised Fund (DAF)
Invest In Impact
Donors like you sustain and scale Library programs that serve the evolving needs of Chicago’s communities.
Contributing through a DAF today can help launch lifelong learning journeys that will benefit Chicagoans for decades! Together, we can ensure that Chicagoans can learn, grow, and connect through donor-powered programs at our Library.
Frequently Asked Questions
What is a Donor-Advised Fund (DAF)?
A donor-advised fund (DAF) is a philanthropic investment account that allows donors to make charitable donations to qualified 501 (c)(3) public charities.
Who can open a DAF account?
Individuals, families, foundations, and companies can establish a DAF account.
What can be contributed to a DAF?
You can contribute a variety of assets to a DAF, including cash, stocks, and real estate.
How do DAFs work?
Step 1: Select a sponsoring organization, such as a financial institution e.g. BNY Mellon, Fidelity Charitable, or Schwab Charitable, and open your DAF account. These institutions will manage your charitable fund. There are typically no set-up costs for starting an account.
Note: Sponsoring organizations administer, manage, and oversee your funds.
Step 2: Make an irrevocable contribution to establish the account with the sponsoring organization selected. This provides an immediate tax deduction to you as the creator of the DAF. With assistance from the sponsoring organization, you’ll personalize the DAF by choosing an investment strategy and even naming it to align with the charitable purpose in which you’ve created it.
Step 3: Support organizations you care about by recommending disbursements from your DAF to eligible nonprofits, such as the Chicago Public Library Foundation, via your sponsoring organization.
Step 4: After receiving your request, the sponsoring organization will take care of the paperwork and distribute the funds from your DAF to the public charity at your recommendation.
Ready to Grow Your Impact?
Donate to the Chicago Public Library Foundation via your DAF today.
Work with your sponsoring organization
to give by check.
Please make checks payable to:
Chicago Public Library Foundation
200 W. Madison, Fl 3
Chicago, IL 60606
Disclaimer: The Chicago Public Library Foundation does not manage nor maintain donor-advised funds.
The Chicago Public Library Foundation will acknowledge your gift but this does not constitute a tax receipt, which should be provided to you by your sponsoring organization. Also, please note that due to current IRS regulations, you are unable to receive thank-you gifts, event tickets, or any other goods or services in exchange for donations made from DAFs. Consult your financial or tax advisor with any questions related to DAFs.
Interested in Contributing via DAF?
Contact Audrey Peiper, Director of Legacy and Impact Giving, to set up some time to talk.