Give Like a Billionaire

You've read about the Bill and Melinda Gates Foundation, with their billions (and soon, Warren Buffett's billions) to dole out.

You hear about grants from the Pew Charitable Trust and the Irvine Foundation and uncountable others supporting all types of good deeds.

So you think -- you've done well, and now it's time to do some good yourself. If you're like me, you sit down every holiday and send checks for $20, $50, $100 to individual charities, only to have them spend it to solicit you for more money.

You want to do more good than that. It must feel good for the really wealthy to have their own private foundation. A big tax deduction. Giving away the golden eggs while the charity "goose" is left to grow -- with their name on everything. One phone call decides who gets what, how much and when.

Sounds enticing, but not possible for most of us, right?

Maybe. But there's an alternative, and it's easier than you think. And best yet, it just got easier.

You may want to consider a donor-advised fund. Never heard of it? Here's the skinny.

A donor-advised fund is chartered to manage charitable contributions on behalf of a donor.

They've been around for a long time in the charity world. The sponsoring organization takes a contribution, usually $10,000 or more, and manages it within its charter according to the donor's wishes.

Click here for the video version of this story from Jennifer Openshaw.