Oh joy! 2021 will be the year of transition. Barring any unexpected catastrophes, individuals, businesses, and society can start to look forward to shaping their futures rather than just grinding through the present.
At a time of staggering inequality, wealthy individuals are using donor-advised funds, or DAFs, to claim substantial tax benefits, while often failing to move funds in a timely manor to independent nonprofits addressing urgent social needs. Of particular concern are the growing number of DAFs founded by for-profit Wall Street financial corporations that provide incentives for the warehousing of wealth. This report, Warehousing Wealth:… Read more »