What is a Donor Advised Fund?
A Donor Advised Fund (DAF) is a type of giving program administered by a third party (such as Bank of America Charitable, Fidelity Charitable, Schwab Charitable, Vanguard Charitable, etc.).
It allows you to combine the most favorable tax benefits with the flexibility to easily support your favorite charities and is created for the purpose of managing charitable donations on behalf of an organization, family or individual.
DAFs are an excellent way to both simplify your charitable giving and facilitate your strategic philanthropic goals.
DAFs allow you to make gifts of cash, stock and other assets to the Donor Advised Fund.
Donors are not obligated to recommend a gift right away. Rather, you may take time to discern and select grants of specified amounts to the charities of your choice before advising your DAF administrator to make a gift to their charity.