Donor Advised Fund - Singapore Foundation
Donor-Advised Funds (or ‘DAFs’) are funds which Donors establish with a Foundation to support organisations worldwide. The Donor is entitled to local tax benefits when donations are made to the relevant Foundation.
There are two types of Donor-Advised Fund (chosen when completing your application after payment):
Funded DAF – the donor establishes and funds a DAF. The donor may then suggest grants from the Foundation to charitable organisations as and when desired.
Unfunded DAF – A donor or donors may set up a Fund with no initial deposit. The donor(s) may then add monies as they wish, including inviting others to contribute to the Fund. The donor(s) then suggest charitable organisations to receive grants from the Fund as and when desired.
The benefits of a DAF are:
- Name your Fund as you wish – subject to local restrictions
- Dedicated, branded donation page (optional)
- Listed as a DAF on the Foundation’s generic donation page’s dropdown list
- 1% retention rate on all donations
- Immediate notifications for donations made online via credit card, if appropriate
- Monthly report of donations received and DAF balance in the months when donations are received into the DAF
Once payment for initial year 1 membership and set-up fees has been received, you will immediately be sent an email with the application form to complete. Please check your junk email folder if you cannot see the email after a few minutes. In reviewing your application and conducting our due diligence, Chapel & York makes no judgements as to the value of the work you do or your capacity to do it. In the event of your application being rejected you will be refunded the membership fee. The due diligence fee is non-refundable.
Once approved by the Foundation, you will receive a Welcome Pack including details of how to get started. Renewal invoices will be sent for payment 60 days before due date.
- Your annual renewal date will be taken from the date of initial payment.
- Due diligence will not commence until a completed application form has been received.
- Due diligence will also be required prior to awarding funds to suggested DAF grant recipients unless they are current Chapel & York fundholders.
- Acceptance as a Foundation fundholder will be communicated following completion of the due diligence.