Under Current law, public charities (including community foundations) are permitted to establish accounts to which donors may contribute and provide advice or recommendations with regard to distributions from the fund or the investment of assets in the fund. Such accounts are commonly referred to as “donor-advised funds” or DAFs. Donor-advised funds are powerful tools – both for average people who want to make lasting commitments to their communities, as well as those with significant financial resources who are looking for an alternative to a private foundation.
Consistent with the Forum’s mission to enhance and expand philanthropy, the Forum supports public policy that encourages charitable giving. The Forum supports the role that tax policy plays in encouraging and structuring gifts that support nonprofit organizations and communities. The Forum opposes requiring distribution of donor-advised funds within a certain time period and supports the expansion of the IRA charitable rollover by allowing gifts to donor-advised funds.