By: Al Cantor November marks the tenth anniversary of Professor Ray Madoff’s New York Times op-ed calling for new rules that would accelerate grantmaking from donor-advised funds. Over the years since, as the amount of money in donor-advised funds has grown from $25 billion to $142 billion, the DAF industry has pushed back strongly against Madoff and other reformers, relying on a familiar set of arguments to justify the status quo. These assertions have long rung hollow. Now, thanks to research that has come to light in the last few months, it’s increasingly evident that the talking points of the DAF industry are utterly without
Author: Alan M. Cantor
By Alan Cantor Watch a recent in-depth LAPA webinar on the subject of Donor-Advised Funds Some people simply can’t take “yes” for an answer. How else can one explain how some community foundation leaders rejected the thoughtful set of reforms contained in the Accelerating Charitable Efforts (ACE) Act — a series of measures to reform Donor-Advised Funds (DAFs) that would actually serve community foundations well? For years, the lobbying arm of community foundations — the Community Foundations Public Awareness Initiative — has embraced a business model in which it fights any form of reforms around DAFs, no matter how mild.