Alumnus and UA Little Rock board member Don Riggin is a dedicated supporter and a proponent of donor advised funds.
Veteran fundraiser and philanthropist Don Riggin is an expert on how to maximize the impact of charitable giving. After a career of 52 years that included executive roles at national nonprofit organizations, he is a passionate advocate for both the donor and the recipient.
This Little Rock University alumnus and UA Little Rock board member continues to encourage donors of all wealth levels to consider establishing a donor advised fund, or DAF. It’s the vehicle he and his wife, Dee, prefer for their charitable giving because of the flexibility and benefits it offers them.
Riggin says DAFs are similar to a bank account. The donor creates their fund through cash, appreciated stock, or other assets. They can also fund it through an organization with their assets. The donor identifies the organization(s) to which they want to contribute, as well as “when” and “how much” of a donation they want to make. The gift check is then sent to the nonprofit, or to the donor so they can deliver the gift in person.
“While we appreciate the tax benefits associated with charitable giving, the sole reason Dee and I set up this fund was so we would methodically make gifts to the charities we want to support…It has been a great experience for us.”
—Don Riggin
Donor advised funds are invested accounts, so their value will fluctuate with the performance of the markets. Donors may make contributions to grow their fund at any time, and they can designate gifts to nonprofit organizations of their choice anytime, as well.
As fund owners contribute to the DAF to grow the account, the money they deposit is tax deductible. For donors who are 72 years of age or older, transferring the annual required minimum distribution from an IRA to a DAF is a great option because the owner won’t be taxed. When the donor makes a gift through the DAF, that money is not subject to taxes either.
Donor advised funds can be created through community foundations, as well as some financial institutions or participating investment firms.
To learn about giving options at UA Little Rock, contact Ginger Daril at 501-916-6437 or vlkays@ualr.edu.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
