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Myths About Payout Rules for Donor-Advised Funds - Opinion - The Chronicle of Phil... Page 1 of 7
OPINION
January 13, 2014
5 Myths About Payout Rules for Donor
-Advised Funds ... Madoff
Donor-advised funds are in the process of taking over the charitable landscape.
While giving to most charities has remained largely flat in recent years, contributions
to donor-advised ... their money have been the primary recipients of benefits from the growth of
donor-advised funds, while charities and the people they serve are being starved of
resources.
Donors
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petitioners' interest in making charitable gifts, Mr. Dyer advised them to establish a donor-advised
fund at a nonprofit community organization. 1 Petitioners followed this advice and chose the Greater ... Houston
Community Foundation (Foundation) to administer their contemplated donor-advised fund. The Foundation is a
tax-exempt organization that provides funds to support cultural, educational, health, and welfare programs ... significant charitable contribution to the Foundation of (1) $20,000 to
establish a donor-advised fund and (2) JHHC nonvoting stock. Mr. Paddock reported the contemplated gift to the
Foundation
https://www.justice.gov/epstein/files/DataSet%209/EFTA00598139.pdf
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according
to a new report.
The reason for this change are so-called donor-advised funds, which are the fasting
growing charitable giving vehicle in the country. Some ... past decade,reports Fidelity Charitable, the largest donor-advised program in the
nation.
Donor-advised funds have been around for many years but most often have been
used ... funds works: You make an irrevocable tax-deductible contribution to a
donor-advised fund, where you choose an investment option like an S&P500 index
fund. The money grows
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petitioners' interest in making charitable gifts, Mr. Dyer advised them to establish a donor-advised
fund at a nonprofit community organization. 1 Petitioners followed this advice and chose the Greater ... Houston
Community Foundation (Foundation) to administer their contemplated donor-advised fund. The Foundation is a
tax-exempt organization that provides funds to support cultural, educational, health, and welfare programs ... significant charitable contribution to the Foundation of (1) $20,000 to
establish a donor-advised fund and (2) JHHC nonvoting stock. Mr. Paddock reported the contemplated gift to the
Foundation
https://www.justice.gov/epstein/files/DataSet%209/EFTA00598147.pdf
COUNCIL on FOUNDATIONS
Deductibility Requirements for Gifts to Donor-Advised Funds
Summary: The Pension Protection Act of 2006 modifies the requirements for obtaining a charitable
deduction for a contribution ... donor-advised fund.
Effective Date: Contributions made 180 days after the date of enactment (contributions made after
February 13 or 14, 2007 depending on the date of enactment).
What ... rules for substantiating contributions to donor-advised funds?
To claim a charitable, gift or estate tax deduction for any contribution to a donor-advised fund after the
effective date, donors
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according to a new report.
The reason for this change are so-called donor-advised funds, which are the fasting growing charitable
giving vehicle in the country. Some ... past
decade,reports Fidelity Charitable, the largest donor-advised program in the nation.
Donor-advised funds have been around for many years but most often have been used ... funds works: You make an irrevocable tax-deductible contribution to a donor-advised
fund, where you choose an investment option like an S&P500 index fund. The money grows
https://www.justice.gov/epstein/files/DataSet%209/EFTA00973636.pdf
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COUNCIL on FOUNDATIONS
Definition of a Donor-Advised Fund
Revised — September 7, 2006
The Pension Protection Act of 2006 includes the first comprehensive regulation of donor-
advised funds. These ... that hold assets in such funds. However, a provision
barring the payment from donor-advised funds of grants, compensation and similar
payments to donors, advisors, and persons related to them ... which occurred on August 17, 2006. Understanding the
definition of what is a donor-advised fund also is important to the implementation of the
bill's charitable IRA rollover provision
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according to a new report.
The reason for this change are so-called donor-advised funds, which are the fasting growing charitable
giving vehicle in the country. Some ... past
decade,reports Fidelity Charitable, the largest donor-advised program in the nation.
Donor-advised funds have been around for many years but most often have been used ... funds works: You make an irrevocable tax-deductible contribution to a donor-advised
fund, where you choose an investment option like an S&P500 index fund. The money grows
https://www.justice.gov/epstein/files/DataSet%209/EFTA00973634.pdf
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COUNCIL on FOUNDATIONS
Reporting for Organizations that Hold Donor-Advised Funds
Effective Date: New Form 990 reporting is effective for taxable years ending after August 17,
2006. New Form ... recognition of
exempt status after August 17, 2006.
If our organization holds donor-advised funds, what information must we now provide on
Form 990?
A sponsoring organization, such ... community foundation, must now disclose the:
(1) Number of donor-advised funds owned;
(2) Aggregate value of assets held in donor-advised funds at the end of the tax year
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Means, House of
Representatives
July 2006
TAX-EXEMPT
ORGANIZATIONS
Collecting More Data
on Donor-Advised
Funds and Supporting
Organizations Could
Help Address
Compliance
Challenges ... Could Help Address Compliance
Challenges
Why GAO Did This Study What GAO Found
Donor-advised funds and Donor-advised funds, supporting organizations, and private foundations
supporting organizations ... exempt charitable-giving vehicles. Donor-advised funds are
charitable-giving options that have separate accounts held by a public charity to receive contributions from
received attention from Congress
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been more of a concern in
Type III supporting organizations.
DAFs
The first donor-advised fund is reported to have been created at the New York Community Trust
around ... supported organizations.
25See Victoria B. Bjorklund, "The Emergence of the Donor-Advised Fund," 3 Paul Streckfus' EO Tax J. 15 (May
1998) and Victoria B. Bjorklund, "Choosing Among the Private
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DAFs is in
play. For most of their history DAFs flew under the
Donor-Advised Funds radar, receiving little scrutiny from Congress or
By Ray D. Madoff Treasury. However ... private foundations.
In this article, Madoff argues that the current law
governing donor-advised funds provides too much In this article, I argue that while DAFs serve ... making transfers to a implicating the government in a "wink and nod"
donor-advised fund. system that encourages artifice over substance. That
Copyright 2011 Ray D. Madoff. practice leaves donors
https://www.justice.gov/epstein/files/DataSet%209/EFTA01104564.pdf
COUNCIL on FOUNDATIONS
Is the Fund a Donor-Advised Fund?
The flowchart on the following pages is designed to help community foundations determine
which funds should be classified as donor ... Pension Protection Act of 2006.
For more information about the definition of a donor-advised fund, see the document entitled
"Definition of a Donor-Advised Fund."
Summary
A fund ... only a donor-advised fund if:
• A donor or person appointed or designated by the donor has, or reasonably expects to
have, advisory privileges with respect to distributions or investments
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DONOR-ADVISED FUNDS GUIDE SHEET EXPLANATION
July 31, 2008
PURPOSE
This Guide Sheet Explanation is designed to assist in the completion of the Donor-
Advised Funds Guide Sheet. It contains ... parts: a background part that explains the
history and taxation regime applicable to donor-advised funds and an explanation part
keyed to the donor-advised funds guide sheet.
BACKGROUND
Donor ... Pension Protection Act of
2006 (Pub. L. No. 109-208), the term "donor-advised fund" was not defined in the Code
or Regulations, but it was understood to include arrangements
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