Donor Advised Funds
What Bay Point Does
- Recommends a Donor Advised Fund (DAF) most appropriate for you. In most cases we recommend using Schwab Donor Advised Fund.
- Provides you with the paperwork to establish the DAF.
- Annually, requests the dollar amount that you would like to donate.
- Determines the best security or securities to use for your donation. Typically, these will be the securities with the lowest cost basis.
- Sends you a letter of instruction to sign to transfer securities to your DAF.
- Provides your CPA with the cost basis of the securities transferred.
What You Do
- Provide to Bay Point the dollar amount that you would like to donate.
- Identify the charities that you would like to support and specify the dollar amount of the donations you would like to give to each.
- Use the DAF’s on-line interface to make your grant requests.
- Use the interface to check balances and the status of any grant requests.
- Provide your CPA the year-end statement from the DAF showing the value of the donations you have made during the year.