Which statement best describes the governance difference between donor-advised funds and private foundations?

Which statement best describes the governance difference between donor-advised funds and private foundations?

• A. DAFs require more governance than private foundations.
• B. DAFs have higher ongoing costs than private foundations.
• C. Private foundations are sponsor-managed with donor recommendations.
• D. Private foundations typically involve more governance requirements and ongoing costs than donor-advised funds.

Answer: (D)