×Sign up, and CougarBoard will remember which categories you want to view. Sign up
Jan 27, 2019
9:12:49am
Acorn All-American
Made first Tithing Payment using DAF that I DIK'd last summer. Things I learned
For reference, this experience is with Schwab's DAF (Donor Advised Fund) that I did a donation in kind to last summer, but I expect all of the bigs have a similar experience. Paid tithing for January. Here is the link to the DIK last summer:

https://www.cougarboard.com/board/message.html?id=20008744

Because the DIK last summer is for 2019 and 2020 tithing, I haven't had the need to "pay" tithing yet. From my experience making the tithing payment (aka, "recommended grant") today:

Time and Effort:
It was essentially the same effort as going on line and paying tithing from the church's website. Took less than a minute. You click recommend a grant, find Corporation of the President of the Church of Jesus Christ of Latter Day Saints, type in the amount, and you are done.

Interesting things I noticed today:
Since I did my Donation in Kind (DIK) last summer to the Schwab DAF, my account has grown in value by several hundred dollars (I use the money market investment selection). For those that didn't know, your money is invested until you grant it. Since I plan to use it in the short term, I don't have it invested in any risk, but there are a full complement of investment options for those that care. For me, I don't know I will do anything other than the MM option. For those concerned about fees, the money market rate is more than the fee, so while the money waits to be "earned" (i.e., before you pay tithing), it won't decline - the interest exceeds the fees.

They had a lot of different ways to notify the charity. You could select a lot of different purposes, like "2018 wildfire fund" (didn't know that existed), as well as "Tithe" (which I selected) and also saw missionary fund (interesting). Or, you could select nothing. Also, there is an editable field where you can type a note, so I assume you could say, Elder Studmuffin Acorn Jr., ward unit #XXXXXX and my guess is your $400 monthly payment would make it to your ward. Probably worth a phone call to the church donation office before you do it though, but well worth the effort to do a DIK over time for missionary payments.

Anyway, for convenience of a DIK using a DAF, I am converted. Not sure I will ever go back to donating directly - so much less effort this way. I am pumped for the future convenience. We have come a long way over the last 20 years. It is so easy now to do a DIK.

A reminder - A DAF is not required for the process. It is a convenience.

Oh, one other thing. They provide a list of dates and grants for history, as well as sending you an email confirmation (the brokerage).

As always, happy to answer questions or help. Pay it forward.

Edit - I received this communication three days after I did the transaction:

Congratulations

We are pleased to inform you that your grant recommendation to Corp. of the Pres. of the Church of Jesus Christ of LDS has been approved and the award letter and funds have been mailed to the recommended recipient.

----


-----

"We will fight, day or night. Rain or snow. There is no mention of fair weather." By a CB Poster but I can't remember who...

The Mighty Acorns was my high school mascot?!

Let's get to a 16 team football playoff. Bigger than March Madness.

Originally posted on Jan 27, 2019 at 9:12:49am
Message modified by Acorn on Jan 27, 2019 at 9:13:15am
Message modified by Acorn on Jan 27, 2019 at 9:13:53am
Message modified by Acorn on Jan 27, 2019 at 9:16:13am
Message modified by Acorn on Jan 27, 2019 at 9:20:49am
Message modified by Acorn on Jan 27, 2019 at 9:21:34am
Message modified by Acorn on Jan 27, 2019 at 9:23:32am
Message modified by Acorn on Jan 27, 2019 at 9:24:07am
Message modified by Acorn on Jan 27, 2019 at 9:25:52am
Message modified by Acorn on Jan 27, 2019 at 9:26:08am
Message modified by Acorn on Jan 27, 2019 at 9:27:58am
Message modified by Acorn on Jan 27, 2019 at 9:29:50am
Message modified by Acorn on Jan 27, 2019 at 1:58:20pm
Message modified by Acorn on Jan 31, 2019 at 6:03:37am
Bio page
Acorn
Joined
Nov 25, 2004
Last login
Jul 20, 2019
Total posts
9,589 (601 FO)
Recent feedback given
5 4
Recent feedback received
1 23 2
Messages
Author
Date

Posting on CougarBoard

In order to post, you will need to either sign up or log in.