High-net-worth donors are accustomed to exercising great control and autonomy in their business careers. It shouldn’t be surprising to learn that they’re the same way with their philanthropy, including wanting to exert control not only over how funds are used but also how they’re invested. While the Internal Revenue Code permits donors to recommend to a donor-advised fund how donated funds are invested, what flexibility, if any, exists for a donor who contributes directly to a charity? How
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