Michael Daley ’99: Using Donor-Advised Funds to Continue a Legacy of Generosity

Michael Daley ’99 is proud to be part of the Prep’s circle of philanthropy. As a student who benefited from financial aid during his time on 17th and Girard, Daley now uses a Donor-Advised Fund (DAF) to support the school that gave him so much.

“My family and I were grateful for the generosity of alumni who gave back, enabling students like me the opportunity to attend the Prep,” says Daley, a native of Northeast Philadelphia and Senior Credit Trader in the Fixed Income Division at T. Rowe Price. “My time at the Prep was instrumental. It exposed me to students and families from all different walks of life across the city. That experience fostered a strong sense of community and an appreciation for what makes the Prep unique — its ability to bring together a diverse student body that grows together, supports one another, and constructively challenges each other. I want to be a part of that generosity and join the long legacy of alumni who continue to give.”

A Donor-Advised Fund (DAF) is a charitable investment account designed to support nonprofit organizations such as the Prep. Donors open an account with a DAF provider and contribute cash, securities, or other appreciated assets, receiving an immediate tax deduction. Funds can then be invested and grow tax-free, and donors may recommend grants from their account to qualified charities at any time. While contributions are irrevocable and may only be used for charitable purposes, donors retain the flexibility to decide when and where grants are made.

“DAFs are a tax-efficient investment vehicle similar to a mutual fund,” Daley says. “Assets in the fund are able to grow tax-free, can be tailored to an owner’s risk tolerance, and provide an easy way to manage planned charitable contributions in one central location.”

For Daley, who lives in South Baltimore with his wife, Karen, and their two children, the roots of his giving trace back to his time at the Prep. “We were consistently told to be Men for and With Others, and that never fades,” he says. “It has been a constant in my life ever since I walked the halls of the Prep. My experience continues to guide me — instilling independence, emphasizing the importance of community, valuing diversity of thought, and encouraging a commitment to giving back. Having the opportunity to give back — and knowing the impact it will make — is truly rewarding.”