Family philanthropy: Tips on private foundation vs. donor advised fund

Family philanthropic efforts can take many forms. Two of the most common philanthropy vehicles used among the affluent are the private foundation (PF) and the donor advised fund (DAF).

A private foundation is an IRC Section 501(c)(3) organization that has one primary source of funds, typically either from an individual/ family but may also be a business. This discussion focuses on private non-operating foundations, otherwise known as grant-making foundations.

A donor advised fund (DAF) is a separately…

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