Ray D. Madoff argues that the current law governing donor-advised funds (DAFs) provides excessive benefits to donors and sponsoring organizations without ensuring sufficient benefit to the charitable sector. Madoff suggests imposing a seven-year payout requirement on DAFs and revising rules to prevent private foundations from using DAFs to satisfy their payout obligations. The article discusses the advantages and disadvantages of DAFs, their impact on the charitable sector, and proposes reforms to improve transparency and protect the integrity of the tax system.
documents/EFTA01104564.pdf
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