A Donor-Advised Fund (DAF) is a charitable giving account that allows individuals to make a charitable contribution, receive an immediate tax deduction, and then recommend grants to their chosen charities over time. This fund is managed by a sponsoring organization, such as a community foundation or a financial institution, which handles the administrative tasks. Donors can contribute cash, stocks, or other assets to their DAF and can advise on how the funds are distributed to various charities, including nonprofits, educational institutions, and religious organizations. This flexibility makes DAFs a popular choice for philanthropic giving.