Gates, Ford, MacArthur, Bloomberg, Rockefeller: These are some of the most powerful names in philanthropy because–in addition to representing ultra-rich business icons–they’re attached to private foundations, a part of the charitable sector that provides grants totaling about $60 billion annually to cause groups that rely on their funding to survive.

That’s about three times more than corporations dole out, but still somewhat limited because many foundations generally only spend about 5% of their endowments–that number includes what’s going to their own overhead–in order to reinvest their money in ways that allow them to recoup that cost and continue the pattern in the long run.

But there’s a new kind of giving vehicle that’s gaining ground relative to these funders. The individuals behind Donor-Advised Funds are not only putting record amounts into their version of a charitable investment account, but spending around 20% of it annually on causes that matter to them, according to the 2017 Donor-Advised Fund Report put out by the National Philanthropic Trust, a charity that’s the largest independent DAF sponsor and focuses largely on fixing education, health, and social services.

Read the full article about the growth of donor-advised funds  by Ben Paynter at fastcompany.com.