A Donor Advised Fund (DAF) is a fund maintained by the Foundation. The donor or an advisory committee of the donor’s choosing may advise the Foundation as to fund’s charitable recipients; however the Foundation has the authority to accept or reject the donor’s advice. A DAF has many of the benefits of a private foundation without the restrictions. When a donor contributes to a DAF, the donor receives an immediate income tax charitable deduction. This allows the donor to take advantage of tax incentives while deferring decisions on the ultimate disbursement to charities over time. The deduction limitations are the 50% public charity rates rather than the lower 30% rates for private foundation. Further, the donor’s deduction for real estate or closely held stock to a private foundation would be limited to the cost basis rather than the fair market value for a DAF. A Donor Advised Fund can be established with a minimum gift of $10,000. Current gifts may be cash, securities or real estate. Deferred gifts may be retirement plan assets, remainder interest of a charitable remainder trust, life insurance or charitable bequests.