By Emma Patch
From Kiplinger’s Personal Finance
Jacob Pruitt, president of Fidelity Charitable, the nation’s largest donor-advised fund, offers advice to those considering charitable contributions.
Question: For someone who is new to donor-advised funds, what do they do and how do they work?
Answer: They’re similar to an investment account. You put money or other assets into an account, and if you itemize, you can claim the tax deduction up front. You have the ability to invest your money in a variety of mutual funds, including funds that focus on environmental, social and governance (ESG) issues. Then you identify an IRS-approved 501(c)(3) nonprofit you want to support….