A donor-advised fund can be a great tool to manage your philanthropy. Distributions from your DAF are made directly through the managing organization. We advise entering our employer identification number (EIN) 93-1217856 when searching a charity database to ensure that you are directing your gift to our museum.

There are some restrictions when giving through a DAF. Since the tax-deduction was made at the time the amount was given to the managing organization, your distribution to the Rice must be 100% tax-deductible and you cannot receive goods and/or services in exchange for your gift. This means that your DAF cannot be used to pay for membership or event tickets.

Those who are 70½ years or older can give up to $100,000 directly to a qualified nonprofit organization from your IRA without counting the gift as taxable income.

Your IRA custodian must send the sum directly to the charity, rather than you giving the money to the non-profit organization yourself. No income tax will be due on this money if gifted as a transfer. You don’t have to itemize your tax deductions and it can satisfy all or part of your required minimum distribution from your IRA for the year or even reduce your adjusted gross income.