Harness the Giving Power of a Private Foundation
A donor advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to the New-York Historical Society and other charities.
You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend-but not direct-how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.
In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.