Donor Advised Fund Defined
A donor advised fund (DAF) is a type of charitable giving fund that is established by a donor with an eligible charitable sponsoring organization (i.e. a community foundation) to support a cause (or causes) that the donor cares about.
Additional Information
Donor Advised Donor Designated/Advisory Fund: A fund held by a community foundation where the donor has specified that the fund’s income or assets be used for the benefit of one or more specific public charities. These funds are sometimes established by a transfer of assets by a public charity to a fund designated for its own benefit, in which case they may be known as grantee endowments. The community foundation’s governing body must have the power to redirect resources in the fund if it determines that the donor’s restriction is unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community or area served.
Examples
Wayne White Memorial Fund – El Dorado Community Foundation
Al and Jennifer Vogts – North Newton Community Foundation
James and Barbara Stucky – Newton Community Foundation
Robert and Jennifer McKenney Family Charitable Fund – Fredonia Community Foundation
