A donor advised fund (“DAF”) is generally defined in Section 4966(d)(2)(A) of the Internal Revenue Code as a fund or account On November 13, 2023, the Internal Revenue Service and Treasury Department released proposed regulations on DAFs (the “Proposed Regs”) which has attracted a number of comments and criticisms, including with respect to how broadly the regulators […]
donor advised funds
Proposed DAF Regulations: Strafford CLE/CPE Program
Karl Mill of the Mill Law Center and I will be presenting a Continuing Legal Education / Continuing Professional Education (CLE/CPE) webinar for Strafford on the recently proposed donor advised fund (DAF) regulations. You can watch live on Tuesday, February 6, 2024, at 10 am to 11:30 am PST / 1 pm to 2:30 pm […]
Accelerating Charitable Efforts Act
The Accelerating Charitable Efforts Act (“ACE Act”) is creating quite a stir among nonprofits and leaders in or advising the sector. The TL;DR version of the controversy: the increase in the funds donated to the charitable nonprofit sector resulting from donor advised funds (DAFs) either offsets or fails to offset the problems associated with (1) […]
California AB 1712: Donor Advised Funds (Round Two)
We previously wrote about California AB 1712 when it was a spot bill, a placeholder to address the Legislature’s intent to enact legislation on the subject matter of donor advised funds (DAFs). Fast forward 10 months and AB 1712 has been amended to focus on transparency and data collection without reference to a minimum distribution […]
California AB 1712: Donor Advised Funds
California Assembly Bill 1712, introduced by Assembly Member Buffy Wicks (D-Oakland) on February 22, 2019, expresses “the intent of the Legislature to enact legislation that would relate to donor advised funds for the purpose of improving transparency and accountability through annual reporting requirements, promoting best practices, and requiring minimum annual distributions.” We’ve been expecting to […]
What Is A Donor Advised Fund?
Donor advised funds are an increasingly popular mechanism for individuals with charitable objectives who want to make a deductible charitable contribution in one year but make charitable distributions (grants) over a period of years. They are often recommended to such individuals as a preferable alternative to starting a private foundation. In general, a donor advised fund […]