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Critics take aim at charitable money sitting in donor funds


National News
Critics take aim at charitable money sitting in donor funds
Wealthy philanthropists have long enjoyed an advantageous way to give to charity: Using something called a donor-advised fund, they ve been able to enjoy tax deductions and investment gains on their donations long before they give the money away.
by Associated Press
Jul. 20 2021 @ 5:52pm
In this May 12, 2021 file photo, Sen. Chuck Grassley, R-Iowa, speaks during a hearing to examine President Joe Biden s 2021 trade policy agenda. A Senate bill that seeks to speed up philanthropic donations to charities appears to be gaining bipartisan support in Congress, taking aim at a popular charitable vehicle called donor-advised funds. DAFs allow donors to enjoy immediate tax deductions while investing their contributions tax-free. The bill, introduced by Sens. Grassley and Angus King, a Maine Independent, would make numerous reforms to DAFs by creating new categories of accounts, among other change ....

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