Donor-Advised Funds

Understanding Donor-Advised Funds

A Donor-Advised Fund is a great way to donate to the Charitable Foundation of the Islands and support Sanibel and Captiva non-profit organizations. A Donor-Advised Fund (DAF) may sound like something that’s only for large donors, but it’s actually accessible to anyone who makes charitable contributions. And it’s easy to setup. DAF’s are also one of the most tax-efficient ways to donate money to charities. That’s why they have become the fastest growing charitable giving vehicle, because of their flexibility, allowing donors to give what, when, and where it is most favorable for them.  

What is a DAF?

A DAF is a simple, flexible way to give. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the DAF over time.  

How do I establish a fund?

The donor selects a name for the fund and a Donor-Advised Fund agreement is executed between the donor and CFI. The donor then irrevocably contributes cash or negotiable securities to the fund. 

Is there a minimum fund size: 

The minimum amount required to establish a Donor-Advised Fund is $25,000. Subsequent contributions may be added at any time and in any amount. Also, family and friends may contribute to the Fund to recognize special occasions or events. 

Is there a tax deduction?

Yes. Your contribution is recorded as a donation to CFI, which is tax-exempt under Internal Revenue Code (Code) Section 501(c)(3) and classified as a public charity under Code Section 509(a). 

Can I choose where the funds go?

Yes. You can recommend grants to the charitable organizations that CFI supports which are closest to your heart.  Although our focus is our islands, we can also facilitate your philanthropic gifts to any 501(c)(3) organization in the U.S.

How does CFI utilize the funds?

In 2022 alone, the Charitable Foundation of the Islands (CFI) has distributed nearly $700,000 to nonprofit organizations. We support our nonprofit partners on the islands in order to get relief in the hands of those who need it most. These efforts would not be possible if it weren’t for the incredible generosity of our donors. 

How do I get started?

We can easily walk you through the process. Contact Dolly Farrell, the Executive Director of the Charitable Foundation of the Islands to establish and customize a Donor-Advised Fund for yourself, your family or your business.

Dolly Farrell, Executive Director
dfarrell@sancapcfi.org
(239) 703-3226

We need your help now more than ever, and a Donor-Advised Fund is a great way to give back to the community. We’ll guide you through the simple process and together we will make a difference!  

Sanibel Residents Laurie and Bill Harkey Establish $2 Million Donor Advised Fund with Charitable Foundation of the Islands

May 30, 2023

Laurie and Bill Harkey have embraced philanthropic causes for many years and in multiple locations as they moved for Bill’s Army career. When the couple moved to Sanibel four years ago, they naturally got involved with local nonprofits that matched their interests. The next logical step was to invest in those causes.   

So, they recently created a $2 million Donor Advised Fund (DAF) with the Charitable Foundation of the Islands (CFI), as well as a legacy commitment by naming CFI as a successor trustee.

CFI assists anonymous donor with matching gift for Sanibel School's Seahorse Chorale

Sanibel School’s Seahorse Chorale has been invited to perform at New York City’s Carnegie Hall and a donor has offered a $25,000 matching grant to help them raise the money they need for this once-in-a-lifetime opportunity.

CFI Executive Director Dolly Farrell explained, “The donor wishes to make the gift anonymously so the focus remains on the students and their trip.”

CECI Artist’s Painting Serves as Thank You to Generous DAF Donor: