A donor-advised fund is a tax-savvy way for families to pool their charitable dollars and create the next generation of philanthropists. Getty Images By Kimberly Lankford, Contributing Editor From Kiplinger's Personal Finance, December 2017 QI’d like to set up a donor-advised fund so my family can contribute to charities as a group. Does one person have to control the fund, or can several family members donate to it and get a tax break for the contributions? --E.G., BaltimoreSEE ALSO: Make the Most of Your Donor Dollars AThe fund can be controlled by one or more people. Anyone named on the account can recommend grants, and anyone can make tax-deductible donations. Sponsored Content Setting up a donor-advised fund is a great way to get your family involved in philanthropy, teach your kids and grandkids about giving, and build a charitable fund that can last for generations. Some parents start by controlling the fund themselves but have their children research charities and present their ideas at a family meeting. Parents may add the children to the account as they get older so they can make grants. You can set up a donor-advised fund at many brokerage firms, banks and community foundations. Fidelity requires a $5,000 contribution to get started; Vanguard’s minimum is $25,000. You can donate cash, stock and other assets to get a current tax deduction, then take as much time as you want to choose the charities. SEE ALSO: Making Charitable Donations From Your Retirement Accounts Got a question? Ask Kim at email@example.com.