Peterson and his wife Joan Ganz Cooney, the creator of Sesame Street, have had a charitable fund, the Peterson Fund, at the Trust since the 1970s.

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The money will fund the charitable trust, which runs many of the city's museums and galleries, until 2015.

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Now operated by a charitable trust, the R Tucker Thompson runs summer day sails like this one to fund its work with local children.

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Indeed, donor-advised funds, both those run by community foundations like the Trust and those affiliated with investment firms, such as the Fidelity Charitable Gift Fund, the Vanguard Charitable Endowment Program, and the Schwab Charitable Fund, are a fine way for folks who aren't rich enough to set up their own private foundations to funnel money over time to their favorite charities.

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