Insights Donor-Advised Funds: Sweeping Changes Proposed

Highlights

• Proposed federal legislation could have an impact on donor-advised funds (DAFs), donors, and DAF sponsoring organizations, including Bessemer Giving Fund. 
• Proponents argue that the new legislation would ensure charities receive funds more quickly and prevent charitable dollars from accumulating in DAFs. Opponents believe the drastic measures could have a chilling effect on charitable giving, if enacted. 
• So far, the bill has not gained momentum in the Senate, but we will continue to monitor developments and be prepared to respond quickly if necessary.