Through a Donor-advised fund, individuals are able to make tax-deductible charitable gifts into their named fund and then recommend grants to their favorite charities from that fund when the time is right. A donor-advised fund is established according to IRS guidelines that provide tax advantages for the donor as well as administrative efficiencies.
Tom and Annmarie DeMarais: Strengthening Community Through Strategic Giving
Tom and Annmarie DeMarais have long been committed to making a positive impact in the greater Winona community through their charitable giving. In 2019, they took a meaningful step to enhance the effectiveness of their philanthropy by establishing the Tom and Annmarie DeMarais Fund—a Donor Advised Fund (DAF) with the Winona Community Foundation.
By creating a DAF, the DeMaraises found a simple, flexible, and tax-efficient way to support the causes they care about most. A Donor Advised Fund allows individuals to make a gift to the Foundation, receive an immediate tax deduction, and then recommend grants from the fund over time. Donors also retain the ability to name the fund, suggest future advisors, and direct their giving on their own timeline.
“My initial perception of the Foundation was that it was supported by just a few families,” Tom shared. “Now I understand it’s a true community asset—accessible to many and designed to serve everyone.”
Before making their decision, Tom and Annmarie explored various DAF options. They spoke with charitable organizations that had received grants from the Foundation, consulted with other fundholders, and sought guidance from their financial advisor. Time and again, they were drawn back to the Winona Community Foundation—not only for its strong local presence but also for its commitment to community service.
Their financial advisor confirmed the added value of working with a local foundation, reinforcing their confidence. “We saw the double benefit,” Tom explained. “We could support the causes we love while also strengthening a local institution—just like supporting a small business.”
Initially, their motivation was largely practical. “The 2017 Tax Cuts and Jobs Act law changes made it harder to itemize donations,” Tom noted. “But a Donor Advised Fund helps maximize the impact of your giving while still offering tax advantages.” The Foundation also accepts a variety of assets and invests contributions to grow the fund tax-free, further enhancing its long-term impact.
Since establishing their fund, the DeMaraises have become enthusiastic advocates for the Foundation. They often recommend it to others, highlighting its ease of use, transparency, and personal touch. “It’s a great way to keep track of your giving,” Tom said. “Everything is in one place. The staff is accessible, the board is thoughtful, and the impact reports show exactly how our contributions are making a difference.” In 2024, Annmarie was elected to the Board of Directors.
If you’re interested in aligning your charitable goals with meaningful tax benefits, reach out to the Winona Community Foundation. We’re here to help you connect with the causes you care about—through smart, impactful giving.
The Winona Community Foundation offers a range of charitable options and funds for individuals, families, businesses, and nonprofits to accomplish their philanthropic goals. As your trusted partner, resource, and steward for community philanthropy, the Winona Community Foundation is committed to helping every individual give back in a way that is both meaningful to them and the causes they care about. Contact us to learn more.
