In order to encourage more donors to participate in public welfare activities in a convenient and swift manner, disclose the flow of information and cash flow of the Charity, increase the operational transparency of the Charity, and explore feasible schemes of mutual trust among participants in charitable affairs in China, the Charity, drawing on the experience of overseas DAF charities and proven international practice, intends to establish charitable accounts within the framework of Chinese laws in order to bring innovation to the operating models of Chinese charities.
Simply speaking, each DAF charitable account is a ‘charitable purse’: a donor may contribute, or in other words, ‘make a deposit’ into the ‘purse’ as frequently as they like; the value of the assets are either preserved or increased through investment; and then the contributed assets in the ‘purse’ are spent by making grants to qualified grantees at an appropriate time, whereby philanthropic values and ideas may also be passed on to future generations when charitable assets in this ‘charitable purse’ are passed on, achieving the purposes of family and community legacy and education of public welfare concepts.
After passing the qualification review of the Charity, a recommended donor will become a qualified donor of the Charity. The qualified donor may open a charitable account according to the following steps:
（1）Opening a Charitable Account – Online Application
a) Log in to the DAF Account Service System with your account name and password;
b) Click “Open a Charitable Account” on the home page;
c) Name your charitable account subject to the rules of the Charity;
d) Succeed in opening a charitable account
（2）Opening a Charitable Account – Offline Application
a) Fill out the printed version of the Application Form, and name your charitable account subject to the rules of the Charity;
b) Succeed in opening a charitable account.
The specific processes of opening a charitable account are elaborated on in the Contribution Prospectus of the China DAF Charity and the Contribution, Investment, and Granting Guidelines of the China DAF Charity.
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