Definitions for "Donor-advised fund"
A Donor-advised Fund, established within a community foundation, enables individuals with philanthropic interests to plan their charitable giving, as well as maximize its impact. Donors can recommend grants to a charity requesting that funds be disbursed to support other charities and worthwhile projects of their choice, based on their own preferences and timetable. Generally, donors cannot make recommendations on how gift contributions should be invested to increase the charitable giving power of the fund, as this task is usually the responsibility of the foundation's Investment Committee, as delegated by the Board of Directors. See also charitable gift fund (CGF).
A fund held by a community foundation where the donor, or a committee appointed by the donor, may recommend eligible charitable recipients for grants from the fund. The community foundation's governing body must be free to accept or reject the recommendations.
a charitable fund established by an individual or family