Give the gift of tzedakah . . .As parents, we understand that it is our responsibility not only to provide materially for our children, but also to instill values that will help them lead fulfilling and meaningful lives. Charitable giving—the mitzvah of tzedakah—is one we cherish and, like most values, is best taught by example.
The idea is simple . . .Make a tax-deductible gift of $1,800 to a donor-advised fund that you establish and name in honor of your child or grandchild under the age of 18..
Here’s how it works . . .You and your child can access the fund online to recommend charitable distributions to any IRS-qualified public charity as allowed by law. Friends and relatives can make tax-deductible contributions to the fund in any amount at any time. Assets in the fund are invested and grow tax-free, generating more charitable dollars for distribution to the qualified charities of your child’s choice.