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CA's #nonprofits—our clinics, shelters, food banks, senior centers & more—are on the #COVID19 frontlines. Their services are needed now more than ever.
But they're struggling to raise what they need to serve.
Thread on why #DAFs must step up to help —nytimes.com/reuters/2020/0…
But they're struggling to raise what they need to serve.
Thread on why #DAFs must step up to help —nytimes.com/reuters/2020/0…
What's a donor-advised fund (#DAF)?
As @hasanminhaj explains—they're one of the fastest growing vehicles for charitable giving in the US.
They're appealing bc when you give to a DAF, you take the tax break now—w/out any legal requirement of $ to go to nonprofits. Indefinitely.
As @hasanminhaj explains—they're one of the fastest growing vehicles for charitable giving in the US.
They're appealing bc when you give to a DAF, you take the tax break now—w/out any legal requirement of $ to go to nonprofits. Indefinitely.
DAFs are exploding in popularity—almost *tripling* in total assets since 07.
A *huge* sum of donations go to DAFs. But unlike donations to private foundations, DAFs are *not* legally required to donate a min amount to charities—they get a tax break, w/out having to spend a dime.
A *huge* sum of donations go to DAFs. But unlike donations to private foundations, DAFs are *not* legally required to donate a min amount to charities—they get a tax break, w/out having to spend a dime.
