DFAs
Donor-advised funds (DFAs) have become significantly popular in the past few years surpassing a billion dollars in total assets.
DFAs are a cost-effective alternative to private foundations. They are offered by a sponsoring organization, they are simple, and accessible. You put your money in the fund, the sponsoring organization manages it, and you can donate out of the fund as and when you please to a cause of your choice.
You can get the ball rolling with as low as $5,000. The sponsoring institution will invest this amount as per the fund's policy. You can then utilize the donated amount for making grants to charities of your liking. What's more, the sponsoring organization will assist you in choosing a charity, should you so require, by conducting research.
Donate your old car and clothes
If you’re looking to get an old car out of your garage, donating it could do the trick and also bring you the joy of giving. There are several car donation scams, but there are more ways than ever to donate your car to a good charity. Just be sure to follow the rules of the road.
You could also donate other things that you can’t find any use for – such as clothing, food, furniture, or appliances. Food pantries are always looking for donations. To find one that's close to you – check www.foodpantries.org.
Donate online
Donating online, often referred to as crowdfunding, is an excellent way for marginal donors to collect a large sum of money that can make a lot of difference. Although this is not the primary way many donors prefer, it’s growing at a rapid pace.
The method is more popular with millennials and young people because it complements their digital lifestyles. You’ll find plenty of charity websites with varying causes online where they showcase what they’ve done so far, what they hope to do with the money you donate, and all the other relevant information.
