Donor-Advised Funds: Contribute Now, Donate Later

Get a tax break and time to choose a charity.

Selecting a charity that will use your money wisely and effectively isn’t easy, particularly during this hectic time of year. Donor-advised funds are one solution. These funds allow you to make a charitable contribution now and claim the tax deduction on your 2013 tax return, but distribute the money later. The funds are ideal for busy people who want to give but aren’t sure which charities to support, says Martin Shenkman, a New Jersey lawyer who specializes in tax and estate planning.

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Sandra Block
Senior Editor, Kiplinger's Personal Finance

Block joined Kiplinger in June 2012 from USA Today, where she was a reporter and personal finance columnist for more than 15 years. Prior to that, she worked for the Akron Beacon-Journal and Dow Jones Newswires. In 1993, she was a Knight-Bagehot fellow in economics and business journalism at the Columbia University Graduate School of Journalism. She has a BA in communications from Bethany College in Bethany, W.Va.