Giving Compass' Take:

• Forbes discusses recent advice from an attorney, who made the case for Jeff Bezos to use 501(c)(4) social welfare organizations as vehicle for the billionaire philanthropic activity.

• Would this really be better than setting up a private foundation? This article explores recent concerns around IRS issues and dark money being used in such a matter. This article provides a good introduction to the tax implications of high level philanthropic endeavors.

• Here are four resources for donors when it comes to charitable giving and tax deductions.

Just over a year ago Amazon founder Jeff Bezos, number one billionaire and first ever centibillionaire, reached out to his twitter followers for advice on giving away part of his fortune ... Now comes David S. Miller with advice for Jeff Bezos not on what causes Bezos should support, but on what the optimal vehicle for his philanthropy might be. It takes more than two hundred forty characters, but Advice for Jeff Bezos: Social Welfare Organizations as Grantmakers is available on SSRN as a download. Mr. Miller is a partner in Proskauer and is a former chair of the New York State Bar Association Tax Section.

Mr. Miller's suggestion to Mr. Bezos is kind of intriguing. He thinks the optimal vehicle might not be a private foundation like Bill and Melinda Gates founded. Thrifty old Warren Buffet has been making gifts of Berkshire Hathaway stock to his friend Bill's foundation rather than going to the substantial trouble and expense of setting up his own.  Mark Zuckerberg and Priscilla Chan set up the Chan Zuckerberg Initiative LLC. Assuming the LLC is just owned by one or both of them, anything it does that has tax significance will be on their individual return (assuming they file jointly).  No Form 990-PF on GuideStar for nosy people like me to blog about. And no tax benefits. Moving their assets into CZI has as much federal income tax significance as moving money from one pocket to another.

Read the full article about advice for Jeff Bezos on philanthropy by Peter J Reilly at Forbes.