Taylor, AmFAR Reach Pact : Charities: Actress will give wedding-photo proceeds to her own newly created fund, but will continue serving as executive in nation’s premier AIDS group.

Actress Elizabeth Taylor will set up her own fund to distribute her contributions to AIDS causes and will channel proceeds from the sale of her wedding photos to the new fund, according to an announcement Wednesday. But at the same time, she will continue to serve as founding national chairwoman of the country’s most prominent AIDS charity.

The agreement between Taylor and the American Foundation for AIDS Research (AmFAR), for which Taylor has been the most visible fund-raiser and spokesperson, apparently is an attempt to bridge a rift reported Tuesday in The Times.

The announcement came three days after Taylor married Larry Fortensky in a ceremony expected to generate more than $1 million for AIDS causes, and a day after Taylor interrupted her honeymoon to devote two hours to a conference call with AmFAR executives.

When Taylor last week did not specifically name AmFAR as the recipient of money raised from the sale of photos of her wedding to Fortensky, speculation about her disenchantment soared.

The announcement by New York-based AmFAR appeared to confirm reports that Taylor is dissatisfied with some of the ways the foundation distributes its money. The release said Taylor “wishes to expand her personal involvement in the fight against AIDS” and will use money from the sale of wedding photos to set up the Elizabeth Taylor AIDS Fund.

The new fund will support direct services to AIDS patients in the United States and abroad. Funding from AmFAR is geared to scientific research.

AmFAR President Mervyn Silverman saw the establishment of the fund in a somewhat different light. “From almost Day One that I met her, she has always been interested in care (of AIDS patients) . . . “ Silverman said. “To me, this has not been any surprise.”

Wednesday’s announcement does not directly affect the chief source of Taylor’s discontent with AmFAR--Robert H. Brown, the group’s executive director. In fact, Brown’s position has been strengthened by news accounts that quoted attacks by AmFAR staffers on their boss, a source who attended the Tuesday meeting said.

Brown’s critics have charged that he has made homophobic and sexist comments and that he has distanced the foundation from the gay community.

Silverman acknowledged rank-and-file dissatisfaction with Brown but added that he and others within the organization are dismayed at the publication of internal documents criticizing Brown. The executive director will remain on the job, Silverman said, blaming organizational growing pains for much of the staff anger directed at Brown.

Taylor will continue to keep up a regular round of appearances for AmFAR, Silverman said, noting that she is next scheduled to appear at a New York AmFAR benefit in early December. However, it was not immediately clear whether Taylor might also begin appearing on behalf of other AIDS groups.

AmFAR’s release quoted Taylor as saying that she had never been irrevocably alienated from AmFAR.

“I have never had, nor do I have now, any intentions of leaving AmFAR,” Taylor said. “As a founding member of this vital organization, I will continue to help AmFAR fund desperately needed scientific and medical research to find a cure for the disease, education for its prevention and the development of sound AIDS-related public policy. I believe in the cause of AmFAR, and I look forward to continuing in my capacity as its founding national chairman.”