Rise in donor-advised funds show others big on charity too
By Thomas Kostigen, MarketWatch
Last Update: 9:15 PM ET Jul 25, 2006
SANTA MONICA, Calif. (MarketWatch) - Donor-advised funds are on the rise, eclipsing the enormous giving efforts of Warren Buffett and Bill Gates -- combined.
Brokerages and mutual fund companies report more assets under management in these charitable giving programs. The Chronicle of Philanthropy reports that some $12 billion flows annually into charities from donor-advised funds, which are designed to act like foundations but require far less time and money to start."