Some threads related to this idea:
Currently YAS has a PerlMonks Fund set up. In the past the main intent was as a rainy-day fund for hardware/bandwidth/hosting. That's the impression for the intent of the fund I think I've given to people in the past. With Pair generously taking care of our hardware and bandwidth needs, the need for the money going towards that purpose has now become unlikely.
Giving grants for major development features which greatly enhance the site might be a better use. However I don't want people who have already donated having their money go to purposes they may not agree with. From an administrative standpoint it doesn't really make sense for YAS to set up two different funds or accounts.
Basically I'd like to test the waters and see whether anyone who has donated previously has a problem with past moneys being put towards development. If anyone has a problem with that we will stick with one fund, but only use future donations for development purposes.
Feel free to (and please do) comment below.
Update: Note added below with some of my additional thoughts.