Senators push measure to accelerate DAF, foundation giving
Dan Parks, The Chronicle Of Philanthropy
Associated Press
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FILE - In this Tuesday, June 8, 2021 file photo, Sen. Chuck Grassley, R-Iowa, listens during a Senate Finance Committee hearing on the IRS budget request on Capitol Hill in Washington. Grassley and Sen. Angus King, an independent from Maine who caucuses with the Democrats, introduced legislation Wednesday, June 9 designed to spur faster payouts from donor-advised funds and foundations, giving new momentum to an effort that has deeply divided philanthropy. (Tom Williams/Pool via AP, File) (2020 CQ-Roll Call, Inc.)
Two key U.S. senators introduced legislation Wednesday designed to spur faster payouts from donor-advised funds and foundations, giving new momentum to an effort that has deeply divided philanthropy.
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Sen. Chuck Grassley, Republican of Iowa, and Sen. Angus King, an independent from Maine who caucuses with the Democrats, have teamed up on legislation that closely tracks a plan put forward by a group of prominent wealthy donors, foundations, and scholars of charitable giving.
Two key U.S. senators introduced legislation Wednesday designed to spur faster payouts from donor-advised funds and foundations, giving new momentum to an effort that has deeply divided philanthropy.
Sen. Chuck Grassley, Republican of Iowa, a former chairman of the Finance Committee who still sits on that panel, and Sen. Angus King, an independent from Maine who caucuses with the Democrats, have teamed up on legislation that closely tracks a plan put forward by the Initiative to Accelerate Charitable Giving, a group of prominent wealthy donors, foundations, and scholars of charitable giving.
Episode 40: The Great DAF Debate
May 21, 2021
Donor-advised funds (DAF) have dominated philanthropy in any number of ways over the past decade, whether it’s increasing charitable contributions, boosting assets, or simply garnering attention within the public square.
That could be why it takes a super sized episode of
Fresh Research tackle the topic. This episode diverges from the usual format; instead of one interview there are two interviews, each taking a side on the subject of DAFs and proposed reforms around charitable giving.
Professor Ray Madoff
The first segment features Ray Madoff, co-founder and director of the Boston College Law School Forum on Philanthropy and the Public Good. She’s part of the Initiative to Accelerate Charitable Giving, a coalition of philanthropists, nonprofits and foundations pushing charitable reforms, including new rules around donor-advised funds. Since this episode was recorded, Madoff released a new paper with UC-San Diego Professor Jame
Giving Pledge Falls Short As Billionaires Get a Big Tax Break businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
New Report Says Charities Lost $300 Billion in 5 Years in Part Because Donors Stashed Money in Advised Funds May 4, 2021
New research from two scholars who are advocating for new rules on foundations and donor-advised funds suggests “working charities” lost $300 billion in recent years due in large part to the proliferation of donor-advised funds.
According to a new data analysis from Boston College law professor Ray Madoff and James Andreoni, an economist at the University of California at San Diego, charities lost out on that sum from 2014 through 2018 as charitable donations went instead into donor-advised-fund accounts and private foundations and didn’t come out. The amount lost is substantial: For context, “Giving USA” estimated individuals donated $295 billion to all charities, including DAFs, in 2018 alone.