CAP Practice Questions - CAP Chartered Advisor In Philanthropy Exam

Which characteristic best distinguishes a donor-advised fund (DAF) from a private foundation?

DAF contributions are revocable while foundation contributions are not DAF contributions are irrevocable, and the donor retains only advisory privileges over distributions DAFs allow the donor to retain legal control over assets DAFs are subject to a 5% minimum payout requirement like private foundations

Correct Answer:

DAF contributions are irrevocable, and the donor retains only advisory privileges over distributions

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