Charitable giving: Why U.S. regulators are scrambling to catch up with the boom of donor-advised funds
By Brian Mittendorf, Professor of Accounting, The Ohio State University A revolution in charitable giving is underway due to the growth of donor-advised funds in the United States. Known widely as DAFs, these financial accounts are designated for charitable giving. Donors can get an immediate tax deduction by putting money or other assets into the accounts, and advise the accounts’ managers to give away the money at a later date. After years of concerns about how quickly the money reserved for charity gets distributed and whether donor-advised funds need to operate more transparently, proposed new federal regulations are now...
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