Gone are the days when only people with millions of dollars and names like Rockefeller, Kennedy or Gates could establish family foundations from which to spread their wealth. Now regular Americans with a fraction of the resources can take an active role in benefiting their communities through donor advised funds. These funds are usually created through community foundations and, increasingly, public charities.

Their purpose is to allow you a voice on how your donation will be managed and distributed, while avoiding the expense and regulation of a family foundation. The key word in a donor advised fund, however, is advice. In order for you to enjoy all the tax benefits of a gift to a charitable organization, like Pattie A. Clay Foundation, the gift must be “complete,” meaning you relinquish control. Thus, the donor may have the privilege of making recommendations as to how the money is invested and distributed, but we make the final decisions.