Donor Advised Funds or Charitable Gift Funds

A donor advised fund, also known as a charitable gift fund, is a public charity established by a financial institution in which you can establish an account. You donate cash to the account and take an income tax deduction in the year the donation is made. The money is professionally invested so that it may grow, increasing the aid to your chosen charities. You recommend the charities which will receive donations from your account, the amount and timing of those donations.