DONOR ADVISED FUNDS
Manage your giving without losing your sparkle
Prospero World offers full-service management of Donor-Advised Fund (DAF) accounts as tax-efficient philanthropic giving vehicles for donors with myriad benefits. It’s basically like having your own private foundation without the hassle.
Prospero World handles the administrative, fiduciary and reporting of DAF accounts on behalf of the donor and provides advisory services that include grant management, strategic planning and impact measurement.
WHAT IS A DONOR ADVISED FUND?
A Donor-Advised Fund (DAF) is a simple, easy, and efficient philanthropic vehicle. DAFs are one of the fastest growing philanthropic vehicles in the UK for a number of reasons:
DAFs are easy to set up (and easy to wind-down).
The day-to-day administration and management is outsourced.
The donor can immediately receive tax-benefits whilst retaining agency over their philanthropic activity through their grant recommendations.
They enable the donor to give anonymously.
HOW DOES A DAF ACCOUNT WORK?
Setting up a DAF account is quick and easy. For example, a donor makes a significant, irrevocable contribution of cash or assets to a “charitable sponsor” (that’s us!) and usually tops-up donations annually. The donor immediately receives tax benefits. The donor can “advise” the charitable sponsor to whom they wish grants to be made. The charitable sponsor does all the work -- vetting qualified charitable organisations, conducting due diligence, monitoring and evaluating the projects, and fulfilling the required reporting.
Donors to PW’s DAF have peace of mind contributing to a UK charity (Prospero World), that offers expertise, rigorous due diligence, and, if donors choose -- a layer of protection or anonymity so donors can discreetly focus on the causes they care about most.
Prospero handles all administrative, fiduciary, and reporting on behalf of the donors.
In addition to standard DAF account services, Prospero World offer:
Portfolio of international charities
New sub-sector research
Full monitoring & evaluation of grantees
Monthly Fund reconciliation and strategy check-up
Annual Fund review and strategic plan
Donor Education – reports, research, events, site visits and trips, recommendations.
The extensive, bespoke 360° support given to Donors of PW DAFs is what sets Prospero World apart.
The minimum amount to open a DAF account at Prospero World is generally £150,000 or more. There is no minimum top-up donation amount, but donors typically contribute at least £150,000 annually.
Prospero World conducts due diligence not only on the charities and organisations to whom we make charitable grants, but also on our Donors. The purpose of our due diligence is to assess source of funds, safeguard legal frameworks and to confirm the integrity and reputation of our Donors in both the business and charitable communities.
DUTY OF CARE
Prospero World engages in stringent “Know Your Donor” criteria. These guidelines on accepting donations from individuals are to ensure adequate safeguards that Prospero World only accepts donations that are from legal sources and are acceptable to Prospero World’s charitable mission, thus fulfilling duty of care.
WHY PROSPERO WORLD?
Prospero World has been matchmaking philanthropists and outstanding charities since 2007. Over the years we have built up a dynamic community of philanthropists and international portfolio of exceptional charities. Our multilingual team of experts have robust combined experience in guiding and supporting the journey of philanthropists, conducting research, monitoring and evaluating charitable projects, and providing philanthropic advisory services to individuals. PW’s Donor-Advised Fund evolved organically from our origin: seeking the best and most effective grassroots charitable projects world-wide for philanthropists to confidently support. We encourage our DAF donors to get their philanthropic capital moving and believe in proactively disbursing grants as swiftly and efficiently as possible to its beneficiaries.
Prospero World nurtures relationships between donors and charities, introducing field experts to donors to either further develop existing fields of interest, or to identify areas of charitable activity that may be of particular interest. As well as organising private meetings, Prospero World hosts events to showcase the work of exceptional organisations. Prospero World offers Donors education reports, research, events, site visits and trips, and proactively researches charities and may make grant recommendations to Donors.
Please contact Elizabeth Benoit to learn more: firstname.lastname@example.org or +44(0)7815519088