Question 1

What is a donor advised account?

Accepted Answer

A donor advised fund is a charitable giving vehicle administered by the PAA Foundation and created for the purpose of managing charitable donations on behalf of a business, family or individual.  It offers the opportunity to create a low cost, flexible vehicle for charitable giving as an alternative to direct giving or creating a private foundation.  Donors enjoy administrative convenience, cost savings and tax advantages by conducting their grant making through a PAAF fund.

Question 2

What are the advantages of starting an account within the PAA Foundation?

Accepted Answer

Consolidate all your charitable giving in one fund and let the Foundation manage the administrative services, at a minimal fee, so you are free to focus on making an impact.

Question 3

Will I receive a gift receipt for my tax records?

Accepted Answer

Yes.  The PAA Foundation acknowledges gifts by mail quickly, usually within a week of being received.

Question 4

What are the tax advantages?

Accepted Answer

You receive an immediate tax deduction, up to the maximum amount allowed in your particular tax situation, when you establish a fund and with every additional donation.

Question 5

Can I add to my fund?

Accepted Answer

Yes, you can add to your existing fund at any time with cash, stock or other property.

Question 6

Can my giving be anonymous?

Accepted Answer

Yes.  If desired, your anonymity will be maintained permanently or can be customized for each grant you make.  Additionally, Donor Advised Funds offer the advantage of privacy from the public.

Question 7

Do I have to donate the entire amount all at once?

Accepted Answer

No, donations may be made over time until you reach a donor advised level.

Question 8

How do I start a donor advised account?

Accepted Answer

Contact PAAF at 717-255-8311 ext. 3342 (Kelly Fromuth).  You may open a Donor Advised Account with an initial donation of $25,000 or more.

Frequently asked questions