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Donor-advised funds, which allow donors to store money in a private account and have it directed to charities without having to set up a private foundation, are a popular way to donate in the US.
They're also a hot topic in Canada, where they're being criticized for taking advantage of tax breaks and loopholes, and in the US, where they're being called for more transparency and accountability, per a Saturday Seminar article in Nonprofit Policy Reform.
Donor-advised funds were first introduced in the US in the 1930s, but have grown in popularity in recent years, with $230 billion in assets and $52 billion in distributions to charities as of 2022, per the National Philanthropic Trust.
The problem, critics say, is that the funds are stored indefinitely, meaning they're not made available to charities as quickly as they should be.
There are two types of DAFs: one that would require funds to be distributed within 15 years and another that would offer immediate tax benefits for funds distributed within 50 years.
The proposed Accelerating Charitable Efforts (ACE) Act, introduced in 2021, would do two things: It would require funds to be distributed within 15 years and offer immediate tax benefits for funds distributed within 50 years, while also imposing minimum annual distribution requirements similar to
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Selected Foundation News
A customized collection of news from foundations from around the Web.
Foundation: Oshkosh Area Community Foundation
A nurse in Fond du Lac, Wis., is this year's recipient of the DAISY Award, given to those who go "above and beyond" to provide excellent patient care. Haley Birschbach, a nurse in medical...more
It's time for the US to get serious about regulating artificial intelligence, according to a new report from a bipartisan group of senators. The report from the Bipartisan Senate AI Working...more
Rayees Rahman may not be a household name, but he's the winner of a prestigious life-sciences investment competition in the United Arab Emirates. The 21-year-old won the JP Morgan Asset...more
Foundation: GE Foundation
"You showed up in the classroom. You showed up in the laboratory. You showed up on Zoom. And you showed up here today," University of Massachusetts Amherst Chancellor Javier Reyes told...more
The 14th annual Hawai'i Food & Wine Festival is scheduled to take place in October, and in addition to food and wine, festival-goers will get a chance to support local farmers, fishermen, and...more
Foundation: Highmark Foundation
The American Heart Association will be getting a CPR kit in West Virginia schools thanks to a hefty grant from the Highmark Foundation, the Charleston Gazette-Mail reports. The foundation's West...more
Foundation: Oregon Community Foundation
An Oregon museum that tells the story of the Confederated Tribes of Warm Springs is getting a major upgrade after a $20,000 grant from the Oregon Community Foundation, KTVZ reports. "On behalf of...more
How much does it take for a family of four to make ends meet in Wyoming? That's the question posed by the Wyoming Self-Sufficiency Standard, an annual report from the Center for Women's Welfare at...more
"If you flip over a desk, you flip over a desk, you flip over a desk, you flip over a desk, you flip over a desk, you flip over a desk, you flip over a desk, you flip over a desk, you flip over a...more
Foundation: Community Foundation of Herkimer and Oneida Counties
The Community Foundation of Herkimer and Oneida Counties has announced it has awarded more than $2 million in grants to organizations and initiatives primarily in the areas of human services,...more
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Highmark Foundation
Greater Manhattan Community Foundation
Topeka Community Foundation
Community Foundation of Northern Illinois
Community Foundation of Herkimer and Oneida Counties
Knox County Community Foundation
Black Hills Area Community Foundation
Colorado Trust
Point Foundation
Parker Foundation
Social Entrepreneurship
Spotlight
Vertical Farming: The Way to Feed a Global Population
Vertical farms are designed in a way to avoid the pressing issues about growing food crops in drought-and-disease-prone fields miles away from the population centers in which they will be consumed.