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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
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Foundation: Quad Cities Community Foundation
Quad Cities Community Foundation's Teens for Tomorrow program has allowed area high school students to guide philanthropic efforts and award grants.This year's cohort focused on four key areas:...more
Joseph Neubauer and Jeanette Lerman-Neubauer's philanthropic journey.The couple has supported a number of programs for UChicago faculty and students.The Neubauers' philanthropic approach traces back...more
Foundation: Hartford Foundation for Public Giving
More than 110 of this year's graduating students will receive scholarships.The Hartford Foundation plans to continue the program into the future.To qualify, students must be Hartford residents for...more
Foundation: MacArthur Foundation, Knight Foundation, Marguerite Casey Foundation, Marguerite Casey Foundation, Public Welfare Foundation, Surdna Foundation, McKnight Foundation, Skillman Foundation
United Way Worldwide and a group of foundations launched a new award Tuesday for "civic bravery" The Courage Project will grant $5 million in awards over at least a year to recognize nonprofits and...more
Compass Group, Northwestern's food service provider, agreed to a new contract with UNITE HERE Local.Evanston Mayor Daniel Biss announced his campaign for Illinois' 9th Congressional...more
Zoe Lawhorn is president of the Women's Fund of Smith County.The group is a collective giving circle of more than 350 women.Lawhorn: "The world of philanthropy isna€™t exclusive, on the...more
The report focused on six core areas of analysis.The report can be found in its entirety at adirondackfoundation.org/safetynet.The foundation launched its Kindling Awards program, which provides...more
Char KurkriMukri aims to turn disaster-prone island into a global hub for climate resilience, innovation, and sustainable eco-tourism.At the heart of this vision is the transformative potential of...more
Foundation: Vermont Community Foundation
Lawson's Finest & the Vermont Women's Fund celebrate International Women's Day.The event featured a keynote from Emily Bush, Director of the Vermont women's Fund.The Community Foundation and its...more
Foundation: Lancaster County Community Foundation
In Lancaster County alone, nonprofit organizations received over $180 million in federal grants in 2024.If the federal government withdraws needed support, decades of this community's hard work to...more
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