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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.
#caleg nerds who appreciate a thorough & thought-provoking cmte analysis that breaks down a wonky issue into why it really matters: I recommend Asm Judiciary's analysis of #AB1712 by @BuffyWicks for your Sun reading pleasure: leginfo.legislature.ca.gov/faces/billAnal… cc @AnandWrites #DAFs👇👇
Selected excerpts from #AB1712 @BuffyWicks analysis: #DAFs: "a donor-advised fund is a form of charitable giving whereby a donor makes a charitable contribution to a fund that is managed by a fund sponsor." /1
"While the assets in the fund are technically no longer controlled by the donor, typically, the fund sponsor permits the donor to direct the sponsor’s charitable giving activities originating with the assets in the fund." #AB1712 /2
