Donor Advised Fund
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Donor Advised Fund Definition
A Donor Advised Fund is a vehicle for charitable giving, also known as a sub-fund. In the USA this is a vehicle offered by Community Foundations and other commercial and nonprofit organisations. In Australia the equivalent is a sub-fund operating under the auspices of a community foundation or other Ancillary Fund. It is not legally possible for an Ancillary Fund to guarantee or promise that they will follor the donor's direction for sub-funds; the donor may make requests, and the Ancillary Fund trustees will choose whether to follow those requests.