Over the last two years of the pandemic, several coalitions have pressed for modest reforms to the laws governing charitable giving. These have included the Emergency Charity Stimulus to require temporary increases in grant payout rates and the Accelerating Charitable Efforts Act (ACE Act) to increase grant flow and reforms to donor-advised funds (DAFs). A new Ipsos poll shows broad public support for reforms such as these.
By very large margins, Americans do not want the U.S. tax code subsidizing wealthy donors to create perpetual private foundations and warehouse wealth in DAFs. And a broad, bipartisan majority wants donors who are receiving preferable tax treatment for their charitable contributions to move funds quickly to active charities on the ground.
Read the article by Chuck Collins