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Wealthy use loophole to reap tax breaks — and delay giving away money

Private foundations are using donor-advised funds to sidestep federal laws designed to make sure the wealthy donate money to the needy in a timely fashion, not defer the gifts for generations.

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Wealthy Use DAFs to Reap Tax Breaks and Delay Philanthropy

Foundations shift billions to donor-advised funds, skirting US laws requiring transfers to the needy, a Bloomberg analysis finds.

New yorkUnited statesSouth dakotaLong islandDonald trumpStephen mandelJon prattJeff bezosSonny millerMackenzie scottJohnny deppJohn arnoldBrian mittendorfAbigail johnsonNwamaka agboSarah francomano

Wealthy use loophole to reap tax breaks — and delay giving away money

Wealthy use loophole to reap tax breaks — and delay giving away money
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New yorkUnited statesSouth dakotaLong islandDonald trumpStephen mandelJon prattJeff bezosSonny millerMackenzie scottJohnny deppJohn arnoldBrian mittendorfAbigail johnsonNwamaka agboSarah francomano