The Spirit of Giving

Whether you’re just beginning to explore your philanthropic goals or looking for thoughtful ways to deepen your impact, the Community Foundation is here to help. Throughout the year, our Philanthropic Services team partners with local professional advisors to provide educational seminars that help Santa Cruz County learn about different ways to give back to the community you love.

Community leader, David Doolin, embodies this spirit of learning and giving. David is a senior tax partner at local CPA firm PP & Co Advisors, and provides tax and business consulting for families, closely held business owners, and high net worth individuals. He also brought his warmth, knowledge, and love of community to the Foundation’s Board of Trustees, on which he served a total of nine years, including two as President.

Recently, David offered a seminar at the Community Foundation, presenting his perspective on the value of establishing a Donor-Advised Fund here at the Foundation. What follows is a recounting of that conversation.

Why would I create a Donor-Advised Fund instead of donating directly to a nonprofit?

A Donor-Advised Fund is a charitable giving account operated by the Community Foundation that allows individuals or families to make donations at any time. The Foundation invests the funds, and the donor recommends grants to nonprofit organizations over time. DAFs provide flexibility in donating down the road, leading to potential investment growth. If you do itemized deductions of your giving throughout the year, many of us share those collective moments of frantic searching through desk drawers for each gift acknowledgment, with a DAF, that is no longer an issue. All administrative tasks are managed by the Foundation, with centralized record keeping and on-hand nonprofit knowledge.

I’m not sure I have enough cash to donate, but I do have some stock. Would that work to start a DAF?

That is exactly what the Foundation is here to help you with! They are highly trained in handling complex assets, including stock, real estate, and even cryptocurrency. so you have a plethora of other methods of charitable giving besides cash. The Foundation requires a minimum of $25,000 to establish a DAF; however, you do not need to maintain this balance. You may replenish or spend the fund down as you wish, depending on your goals.

I am intrigued by the idea of opening a DAF, but I’d prefer my giving to remain anonymous. Do I have options?

Yes, the Foundation will work with you to keep your anonymity. You can name your fund anything you like! It could be, the “I Love Otters Fund!” With a name other than yours, your DAF can be unidentifiable. It is up to you as a donor. Non-anonymous donors can also choose to make individual grants anonymously by checking a box in our online portal or directly letting the Foundation staff know.

Most of my interests are outside of Santa Cruz. Can I still make donations?

While the Community Foundation has deep local nonprofit knowledge and resources, your DAF can be used to support any 501(c)(3) organization in the United States.

What happens to the remainder of the funds in my DAF when I pass away?

A DAF is a giving tool you use during your lifetime; however, you do have the option of naming a successor advisor. You may also use a Memorandum of Charitable Intent to designate the remainder of the funds in your DAF to specific charitable organizations, or the funds that address a particular area of interest that are held at the Community Foundation, such as the Greatest Needs Fund. The Foundation provides you with different options and tools to help you meet your goals.

How can my Donor-Advised Fund help the community in times of disaster?

I was on the board of the Community Foundation during COVID, during the fires, during the flood in Pajaro, and this is where I learned the extent of their day-to-day action. The Foundation works closely with responding nonprofit organizations with deep roots and experience serving those disproportionately affected by disaster. If you have a DAF, the Foundation is there to help you take immediate action in helping your community.

I would like to share my Donor-Advised Fund with my child. Is that possible?

Absolutely! You can name multiple donor advisors, spouses, children, or other family members who can help recommend grants. Some families use DAFs as an intergenerational tool to engage in thoughtful philanthropy together.

How is the Community Foundation’s DAF different than the charitable offerings from a for-profit banking institution like Fidelity or Schwab?

These guys are pros; when you combine professionalism, knowledge, and a huge heart for giving, you get an amazing organization. What is different about Donor-Advised Funds at the Community Foundation from what you find at Charles Schwab, Morgan Stanley, and other larger corporations is the local knowledge, and there is someone there to answer your phone call and help you in so many ways. The team’s understanding of Santa Cruz’s nonprofits is pretty incredible. They also have the donor portal, basically a catalog of all the nonprofits they work with. It gives you information about what area they're working in, their programmatic goals, and the annual budget of that organization, and gives you a concise, deep dive into all the areas you might care about.