A donor-advised fund, or DAF, is a philanthropic vehicle that allows donors to make a charitable contribution, receive an immediate tax benefit and then allocate grants from the fund to their charities of choice over time. An easy way to think about a donor-advised fund is like a charitable savings account: a donor contributes to the fund as frequently as they like and then gives grants to their favorite organizations when they are ready.
If you don’t have a Donor Advised Fund, but are interested in establishing one, you should talk to your tax advisor or your accountant.
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* Please note that this information should not be construed as legal or tax advice. Please contact your own accountant, attorney, or tax advisor for assistance regarding Donor Advised Fund grants you may be considering making to PSI.