Want to learn more about DAFs?

A Donor-Advised Fund (DAF) is basically a charitable account where people can put money and then decide which charities to support later. These accounts are managed by organizations like banks or foundations.

Here's how it works: When you put money into a DAF, you can't get it back - it's permanently set aside for charity. You get a tax deduction right away when you make the donation. After that, you can suggest which charities should receive grants from your fund, either immediately or whenever you want.

The managing organization handles all the paperwork and checks to make sure the charities are legitimate before sending out the money. This makes giving to charity much easier since you don't have to deal with all the administrative stuff yourself.

It's a convenient way to get immediate tax benefits while keeping control over where your charitable dollars eventually go.