Goldman Sachs offers donor-advised funds (DAFs) through its private wealth management division. Fees for these philanthropic accounts typically involve an annual administrative fee based on a percentage of the assets under management. This percentage can vary based on the size of the fund, with larger funds often benefiting from lower rates. In addition to the administrative fee, there may also be investment management fees depending on the chosen investment strategy. Potential donors should consult directly with Goldman Sachs for specific fee schedules and investment options.
Donor-advised funds provide a flexible and tax-advantaged way to manage charitable giving. Contributions are tax-deductible in the year they are made, and the funds can grow tax-free. Donors can then recommend grants to eligible charities over time, allowing for strategic philanthropy. The structure of DAFs allows donors to consolidate their giving, simplify record-keeping, and potentially amplify their philanthropic impact. The use of DAFs has grown significantly in recent decades as a popular vehicle for charitable giving.
