Donor Advised Fund
Harness the Giving Power of a Private Foundation
A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Old Dominion University and other charities.
You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.
In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.
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.View My Guide
Gifts That Pay You Income
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.View My Guide
An Example of How It Works
Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Laura recommend grants for ODU (which they've supported for years) and the Animal Rescue League. The foundation presents the charities with checks from the Megan Fund, which Joe and Laura named in honor of their granddaughter. Joe and Laura are delighted to start this personal legacy of giving.
Make Sure You Have a Plan for All Your Assets
Download our FREE Wills KitDownload My Free Kit
- Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
- Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
- Contact Barbara M. Henley, CFRE at 757-683-6563 or email@example.com or Brett A. Smiley, CFRE at 757-683-4735 or firstname.lastname@example.org to discuss using donor advised funds to support ODU and our mission.
- Seek the advice of your financial or legal advisor.
- If you include ODU in your plans, please use our legal name and federal tax ID.
Legal Name: Old Dominion University Educational Foundation
Address: 4417 Monarch Way, Suite 4113, Norfolk, VA 23529
Federal Tax ID Number: 54-6052014