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The benefit is decoupling the timing of setting funds aside for charity and the timing of donating to organizations. For example, let's say that your income this year was unusually high (you sold your company, you received a bonus, or some other one-time event) and you plan to donate $100,000 to charity. If you put the money in a donor-advised fund you get the tax deduction immediately, but you can decide what exactly to do with the money later. For example, you can choose to donate $10,000 per year over the next ten years. Yes, there are fees, but on the plus side the money can be invested in a mutual fund while it's sitting in the donor-advised fund. Eventually the money will be donated, there is no way to get it back.