Now that you have attained the financial security where you are able to share your assets philanthropically, your biggest decision is determining just how to do that.

As discussed earlier, there are many ways to donate to qualified organizations. But when a more systematic, managed approach is desired, most people look closely at two options: a donor-advised fund or a private foundation.

How do you know which is best for you? Obviously, you must look at your overall portfolio and how much you want to dedicate to charitable causes. There are also lifestyle issues (how involved do you want to be in the giving process), management concerns (again, what level of involvement you seek), and of course tax considerations.

Before making a decision, examine what distinguishes each philanthropic program.

Time, tax, and money matters
Comparing donor-advised funds with private foundations
Converting a foundation to a donor-advised fund

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