Among the very wealthy, family foundations long have been a common vehicle for charitable giving. However, more families than ever are skipping foundations altogether in favor of simpler and cheaper donor-advised funds.

Credit the convenience factor, say industry executives. “They are very operationally easy,” says Sarah Libbey, president of Fidelity Charitable, which runs one of the nation’s largest donor-advised funds. "There’s no paperwork and everything is online."

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access