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Am I correct that a gift to a "donor advised fund" goes into a pool, so that when a gift is made to a charitable organization by that fund, the money come from the pool, not from any one person? --V. via email

Normally, the assets of a donor advised fund are invested with the sponsoring charity's investment pool, but each fund is accounted for separately and grants are made from the "fund" at the charity.  The recipient would receive the grant from a fund at the sponsoring charity, but if the fund name does not reveal the identity of the donors to the fund and was intended to be anonymous, the recipient would not know their identity. --Don Kramer

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