A donor-advised fund (DAF) is a charitable giving account designed exclusively to invest, grow, and give assets to charities for meaningful and lasting impact. Here's how it works: You donate assets into a DAF and recommend how those assets should be invested. Your contribution is tax deductible, and the assets in the DAF grow tax-free. When you're ready, recommend a grant for a charity you care about, and we take care of the rest. Some people call it a giving vehicle, others call it a philanthropic fund, we call it the most convenient, tax-efficient way to give back.

We've built our investment philosophy on the principles that have made Vanguard the leader in at-cost investment. Our goals are simple: keep our all-in fees low without sacrificing performance. More growth means more charitable impact over time.