HUDSON — Eighteen months after leaving American Endowment Foundation, resident Phil Tobin announces the launch of iGiftFund, an independent, advisor-managed Donor Advised Fund with the goal of creating a unique donor experience.
DAFs have become the fastest-growing form of planned giving in America, outnumbering private foundations three to one, according to the 2017 NPT Report, but they are often perceived as complicated.
Tobin aims to change that.
"Being in a position to ‘give back’ is the reward of a life well-lived; it should be enjoyable, not complicated," said Tobin, CEO of iGiftFund. "DAFs are an incredibly simple tool for family philanthropy. They empower individuals to give to any charity, any time, while also involving their children in the process to create a legacy of family giving. What could be more fun."
Tobin is considered among the most experienced DAF experts in the country. He pioneered one of the country’s earliest DAFs when he served in the 1980s as CFO of The Cleveland Foundation.
He founded American Endowment Foundation in 1993, which grew by 2016 to become the 21st largest charity in the country.
"I’m beyond thrilled to get back into the business of helping individuals give to the charities that mean the most to them — and involving their families in the process," Tobin said.
A Donor Advised Fund is a charitable investment account aimed at managing an individual’s philanthropic interests over multiple generations. Donors have the ability to contribute a range of assets including cash, marketable and non-marketable securities, real estate and life insurance, as well as a simplified process with the bulk of the paperwork being performed by iGfitFund, the fund sponsor.
Tax benefits are taken immediately when the DAF is opened, even though donors can take their time to distribute funds to the charities of their choice. Many donors use DAFs as a simple tool for developing and passing-on family values and legacy by getting children and grandchildren involved and thus preparing them to become responsible, caring adults.
Of important note, iGiftFund does not replace an individual’s financial advisor. Instead, it works with the individual’s advisor to fit DAFs into investment portfolios and manage their client’s charitable assets.
"In less than three decades, DAFs have become a primary vehicle for giving in America. It’s an exciting opportunity for donors, and for me to see my vison for DAFs come true in my lifetime," Tobin said.
To learn more about iGfitFund, contact Tobin at 800-810-0366; email firstname.lastname@example.org; or visit the website at www.iGiftFund.org.