Jessica and Joel Levine and Family. Credit: Twinty Photography

By Amanda Sokolosky  

Shalom Austin launched a Donor Advised Fund Incentive Program designed to encourage philanthropy in the name of the Jewish community and to help promote a Donor Advised Fund (DAF) as a central part of family philanthropy. The new DAF Incentive Program is generously underwritten by the Jessica & Joel Levine Family Fund at the Shalom Austin Jewish Foundation.  

Before creating his own DAF in 2017, Joel Levine held a lot of preconceived notions about Donor Advised Funds. “I assumed DAFs were a complicated tool and that they were only for people who were giving very large gifts to charity. I thought they weren’t that commonly used. I was wrong on all three points.”    

In reality, DAFs are a popular and convenient way to manage charitable donations and realize significant tax advantages. A good analogy is to think of a DAF as a charitable investment account. People can open a DAF with an initial contribution from their checkbook, credit card, stock and other assets. They than receive a tax deduction for this contribution and any additional money that they contribute to their DAF – a terrific way to handle annual bonuses, appreciated stock, or year-end recommendations from a CPA to make more charitable contributions. The funds in a DAF are invested and grow tax-free, ready to be granted to non-profit organizations when the DAF holder is ready.   

When people manage their charitable giving with a DAF, their donations are easy to track.  

The Levines say they enjoy being able to see all of the family’s grants in one place. “My wife Jessica and I like to include our children when we make grants to charity from our DAF. We sit down together to look at our past grants, and the kids will suggest a new cause or organization that we should support,” the Levines said.  

“Our world is so filled with 1-click-pay, apple-pay, and Face-ID pay that sometimes donations can feel like just another Amazon purchase. Sitting down with our kids, looking at our giving history, and talking together makes for a much more meaningful conversation about how we give back.”  

Now Joel, a former chair of the Shalom Austin Jewish Foundation Committee, wants to help more young families open their own donor advised funds. The Levines have underwritten a program for Shalom Austin to contribute $500 to the first eight new DAFs opened at the Foundation this year. “We’re hoping this opportunity incentivizes others to take the leap to open a DAF. There are so many benefits to having a DAF, and when you open one at the Jewish Foundation instead of a commercial bank, you’re investing in the future of our community – no matter which non-profits you choose to support,” Levine said.  

To learn more, contact Amanda Sokolosky at (512) 735-8210 or [email protected] or visit shalomaustin.org/daf.