The China Global Philanthropy Institute, the Beijing Zhong Lun Charity Foundation and Shenzhen CSN Financial Services Co., Ltd jointly established the China DAF (Donor Advised Fund) Charity (hereinafter the ‘Charity’) on June 21st, 2018. The registration was completed in the Shenzhen Civil Affairs Bureau.
With the mission of ‘Helping donors with their charitable legacies’ and the vision of ‘Connecting donors with lasting impact’, as well as the main focus on ‘serving donors’ with the ‘spirit of stewardship’, the Charity provides services related to the contribution, investment, and granting of charitable assets in an independent, transparent and convenient manner under the principles of transparency, professionalism, internationalization, and mutualization of resources, while also leading the efforts to popularize philanthropy in society.
The Charity adopts the operating model of donor advised fund (shortened to ‘DAF’, literal Chinese translation “捐赠者建议基金”, may also be translated into “捐赠者服务基金”). Donor advised funds attach great importance to donors’ advisory rights, which are exercised by charitable account advisors, in regard to the use of the contributed assets. Donor advised funds have advantages such as strategic contributions, mutualization of contribution management, and diversification of investment models, among others.
The operating model of DAFs, based upon international practice and tailored for the Chinese legal framework, is a beneficial attempt to innovate the manner in which domestic philanthropic foundations are operated. The Charity wishes to encourage people, especially high-net-worth individuals, to take part in charitable affairs and inspire positive changes to foundations in China through this new model of charitable contribution.