A Donor Advised Fund (DAV) is a vehicle for charitable giving that is an alternative to direct giving. Charitable gifts of almost any kind (cash, stock, property) are accepted and invested by charitable investment organizations (eg. Oklahoma City Community Foundation, Tulsa Community Foundation, Schwab Charitable, etc.). Donors can contribute to their DAV at any time, receive an immediate tax deduction and recommend grants from the Fund in the current year or subsequent years. Grants are distributed as either a specific dollar amount or a percentage of the total return (including income, dividends, realized and unrealized gains/losses) to qualified charitable 501(c)(3) organizations such as the OSSM Foundation.