Donor Advised Funds

Harness the Giving Power of a Private Foundation

A donor advised fund (DAF) is a charitable giving program that allows you to combine the most favorable tax benefits with the flexibility to support your favorite causes. If you have a donor advised fund, DAF Direct enables you to recommend grants as long as your DAF’s sponsoring organization is participating.

An Example of How It Works

The Gaunches WVSU Alumnus, West Virginia State Senator Ed Gaunch, established a DAF by making an irrevocable, tax deductible donation to a public charity (in this case WVSU Foundation) that sponsors a DAF program. He then recommended a grant to support the foundation. The benefits are two fold—WVSU Foundation receives the gift to support students and ongoing university programs and the investment allocation of the donated assets on any investment growth is tax free for the donor as well as their receiving a charitable deduction.

Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Contact WVSU Foundation at (304) 766-3130 or foundation@wvstateu.edu to discuss using donor advised funds to support The WVSU Foundation and our mission.
  4. Seek the advice of your financial or legal advisor.
  5. If you include The WVSU Foundation in your plans, please use our legal name and federal tax ID.

Legal Name: West Virginia State University Foundation
Address: P.O. Box 1000, Institute, WV 25112
Federal Tax ID Number: 55-6019228

Support What Matters

Learn more about donor advised funds. View and download the FREE guide One-Stop Giving: The Convenience and Simplicity of Donor Advised Funds.

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Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Contact WVSU Foundation at (304) 766-3130 or foundation@wvstateu.edu to discuss using donor advised funds to support The WVSU Foundation and our mission.
  4. Seek the advice of your financial or legal advisor.
  5. If you include The WVSU Foundation in your plans, please use our legal name and federal tax ID.

Legal Name: West Virginia State University Foundation
Address: P.O. Box 1000, Institute, WV 25112
Federal Tax ID Number: 55-6019228

A charitable bequest is one or two sentences in your will or living trust that leave to West Virginia State University Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to West Virginia State University Foundation, a nonprofit corporation currently located at P.O. Box 1000, Institute, WV 25112, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The WVSU Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The WVSU Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The WVSU Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The WVSU Foundation where you agree to make a gift to The WVSU Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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