Tag Archives: donor advised funds

New Money

Philanthropy, incorporated for the public good, can and should make all its investments accordingly. In 2021, Senators Angus King (I-Maine) and Chuck Grassley (R-Iowa) introduced a bill to more tightly regulate donor-advised funds, commonly referred to as DAFs. While the Accelerating Charitable Giving (ACE) Act’s reforms were far from sweeping, the bill set off a bitter debate over who controls charitable funds: the donor or the public. The Act’s supporters plausibly argued that wealthy donors could use the increasingly popular philanthropic instruments for personal gain, and that DAFs allow them to hoard and perpetually control what becomes public money once [...more...]

Moving DAF Inertia into Action

David Risher is, like you’d assume of many high-level tech execs, into big goals. The Amazon alum’s nonprofit, Worldreader, has reached 21 million children across the globe.  But Risher’s goal by 2025 is to serve 25 million kids, get them reading at least 25 books a year, while expanding Worldreader’s budget from $10 million to 25.  “There’s no such thing as a wealthy society that’s not a literate society,” Risher says. “Without reading, it’s really hard to solve the big world problems.”  Funnily enough, Risher and his wife, Jennifer, sparked nearly $30 million in charitable gifts with much less defined [...more...]