My question is this: At some point I will inherit a lot of money, somewhere between 5 and 10 million dollars in todays money. My aim is to give it away. A few years ago I was made aware that it is unusual for charities to "grow" their money, since risking donor money is frowned upon, leaving charitable organizations with a large competitive disadvantage compared to other companies. This has always seemed silly to me, so what I would really like to do is something like make a trust (index)fund where something like 3 percent of the money was paid to EA per year. But I dont really know much about this stuff, I was wondering if someone here knows more about it. Is this smart? Are there funds out there already that are iron-clad? What is the best way to set up something like this? A trust fund?
Have you heard of a Donor Advised Fund? This does like 90% of you want (tax deductability + bind your hands in that the money must eventually go to a charity). A major caveat is that you have less freedom on both the investment side and the donation side, I haven't dug through the details but a lawyer or investment professional can probably help you walk through this.
EDIT: Michael Dickens has an article on the forum about which Donor Advised Funds are best.
This seems like the correct choice. One caveat is that this might make it harder to donate to speculative projects that don't have 503 status. But you could e.g,. partner with a 503 to run a grant round. So maybe don't donate literally all f it to the DAF?