donor advised fund

Defined in 1 place of the United States Code.

Except as provided in subparagraph (B) or (C), the term “donor advised fund” means a fund or account—

(i) which is separately identified by reference to contributions of a donor or donors,

(ii) which is owned and controlled by a sponsoring organization, and

(iii) with respect to which a donor (or any person appointed or designated by such donor) has, or reasonably expects to have, advisory privileges with respect to the distribution or investment of amounts held in such fund or account by reason of the donor's status as a donor.

Source

2006–present 26 U.S.C. § 4966Internal Revenue Code · Taxes on taxable distributions · for purposes of this subchapter