A donor-advised fund (DAF) is a charitable investment account for the sole purpose of supporting charitable organizations you care about. The account is maintained and operated by a sponsoring organization. While the sponsoring organization has legal control over the funds contributed, donors (or their representatives) retain advisory privileges with respect to the distribution of the funds and investment of assets in the account.
Donor advised funds are the fastest-growing charitable giving vehicle in the United States because they are tax advantageous and one of the easiest, most effective ways to give to charities.