Donor-advised funds (DAFs) are accounts that are held at a public charity on behalf of a donor. The donor contributes cash or other assets to his or her DAF and is able to take a tax deduction, up to allowed maximums, in the year of the donation. The donor can advise the charity on grants to be made to qualified charitable organizations using these funds provided the purpose meets the DAF guidelines. The funds in a DAF can also be invested to grow tax-free and donors can continue to make charitable contributions to their DAF until the account is closed.