Our charities are in dire need: federal pandemic-related aid programs have wound down, families are struggling with high inflation, and donations aren’t keeping pace. And that’s happening even while more than a trillion dollars in charitable “gifts” are locked up in private foundations and donor-advised funds (DAFs), rather than being used to support our nation’s charities.
Charitable giving today is more important than ever, and nonprofits like food banks play a crucial role for millions of families. But the laws around giving are falling short — putting the interests of donors first, rather than prioritizing what charities need.
Current U.S. tax law allows donors to receive an upfront tax benefit for their charitable contributions even if these funds sit in charitable intermediaries indefinitely. The money stockpiled — now estimated at $1.2 trillion — often fails to make its way out to working charities serving the public. And they are ripe for abuse by donors and for-profit actors alike.
Join us Wednesday, October 19th for a webinar to investigate these trends, and discuss what we can do to change the landscape.
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