Got $5 Million? Yale Will Manage It, But You Won’t Get It Back

In this charitable giving season, elite universities are cashing in on the popularity of donor-advised funds by inviting big givers to have their money managed by the same high-powered investors who oversee their endowments. If you have enough cash to give away, Yale (CT), Stanford (CA), Dartmouth (NH), and other schools will look after it for you while you decide where to donate it. Of course, much of it eventually has to go to the college. Donor-advised funds are investment funds for charitable donations.