Friday, April 2, 2021

DAF Debate Heats Up, New Data Emerges

Cropped-acg_logo_700Recent weeks have seen a flurry of pieces relating to changing the legal rules for donor advised funds or DAFs. Notable contributions include:

At the same time, data about DAF contributions and donations continues to emerge (some from sources with a stake in the reform debate), including:

  • The National Philanthropic Trust published its 14th annual Donor-Advised Fund Report, reporting continued rapid growth of contributions to DAFs and donations from DAFs to charities through 2019.
  • The Nonprofit Times reported that the largest DAF sponsor organizations reported significant increases in distributions from DAFs to charities in 2020, including a 24% increase at Fidelity Charitable, a 171% increase at the National Philanthropic Trust, and a 35% increase at Schwab Charitable.

Despite this debate and new information, it is unclear at this point whether there is any interest in Congress for changing the rules for DAFs. And the IRS is still considering comments it received in response to Notice 2017-73 relating to various issues involving DAFs.

Lloyd Mayer

https://lawprofessors.typepad.com/nonprofit/2021/04/daf-debate-heats-up-even-as-new-data-emerges.html

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