Your gift is tax-deductible, and it is protected.
The Joel Byrne Let Goodness Shine Fund is a donor-advised fund of the Arlington Community Foundation — a 501(c)(3) public charity. ACF holds the money, issues your receipt, and enforces the rules.
The short version
What a donor-advised fund is
A donor-advised fund is a giving account held at a public charity. The charity — here, the Arlington Community Foundation — manages the account, handles the investing and compliance, and issues your tax receipt. Grants are then recommended out of the fund over time.
"DAF accounts allow donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time."
National Philanthropic TrustWe chose this structure because it gives donors the protections and tax treatment of an established public charity without the cost and overhead of building an independent foundation from scratch. It also means the compliance is handled by people who do it professionally.
Who decides where grants go
Grants are recommended by the fund's co-advisors, Don and Monica Byrne, and approved by the Arlington Community Foundation. ACF holds legal control over contributed assets and will only release grants to qualified charities.
What the fund can and cannot do
These limits are set by IRS rules governing donor-advised funds, and they are strictly enforced by the sponsoring charity.
Allowed
- Grants to IRS-qualified 501(c)(3) public charities
- Grants to charities providing goods or services to people in need
- Gifts of any size, at any time, added to the endowment
Prohibited
- Any grant that benefits the advisors, their family, or related parties
- Payments toward a legally binding personal pledge
- Political donations of any kind
We are glad of those last two. A rule you cannot bend is worth more than a promise you could.
Questions
If you have questions about the tax status of the fund or of the Arlington Community Foundation, contact us — or contact ACF directly at 1100 N Glebe Rd, Suite 630, Arlington, VA 22201, 703-243-4785.
Built to last longer than us.
Gifts are invested, and grants come from what those gifts earn — not from the gifts themselves. That is what makes this permanent rather than a pass-through.
Read the mission
Because goodness is contagious.
The Let Goodness Shine Foundation is a donor-advised fund of the Arlington Community Foundation — a 501(c)(3) public charity, tax-exempt since March 1, 1992, and accredited under Community Foundations National Standards. EIN 54-1602838
Gifts are made to ACF for the benefit of the Joel Byrne Let Goodness Shine Fund. ACF issues your tax receipt and holds legal control over contributed assets. Contributions are deductible to the fullest extent allowed by law. We pay no salaries.
By check — payable to Arlington Community Foundation, with Joel Byrne Let Goodness Shine Fund on the memo line: 1100 N Glebe Rd, Suite 630, Arlington, VA 22201 · 703-243-4785