Donor-Advised Funds Slash Fees and Expand Choices
November 28, 2006 | Read Time: 1 minute
Donor-advised funds are cutting fees and accepting a broader range of donations than in past years, The Wall Street Journal reports.
Donor-advised funds allow people to give cash, stock, or other assets to special accounts and receive tax benefits for their gifts; the donors can channel the money in those accounts to charities of their choosing.
Some of the funds are starting to accept money from hedge funds and gifts of real estate, the newspaper says. In addition, some funds now allow a donor’s investment adviser to manage money in the accounts.
Last year, the country’s largest donor-advised funds held assets of $15.5-billion, up 22 percent from a year earlier, according to The Chronicle of Philanthropy’s annual survey.
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