Community foundation leaders say the controversial IRS proposed regulations on donor-advised funds could hamper their ability to quickly respond to emergency events.
The November 2023 IRS proposal received widespread criticism for being too broad. Donor-advised funds are increasingly popular philanthropic tools that allow donors to receive an immediate tax exemption for their gift and leave the money or assets in the fund indefinitely before detailing which charities would get their money.
Under the proposed regulations, the definition of “donor-advised funds” includes certain funds sponsored by community foundations that aren’t considered a DAF now, leaders told IRS officials at a ...
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