CUA Law Professor Roger Colinvaux was quoted in an Oct. 3 Bloomberg article entitled "The Super-Rich Are Stockpiling Wealth in Black-Box Charities"
The Super-Rich Are Stockpiling Wealth in Black-Box Charities
Date: October 3, 2018
By: Suzanne Woolley
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'Big' Policy Question
Payouts are "the big public policy question," said Roger Colinvaux, a professor at Catholic University of America's Columbus School of Law. "DAFs are set up to treat money like it's still the donor's money. It's like having your own mutual fund at Fidelity: You get statements and watch it grow. You feel like if you spend it, you lose it."
If the pace of grantmaking doesn't increase, DAFs risk regulation, said Bryan de Lottinville, founder of Benevity, a corporate giving platform that partners with DAFs. "There's this big corpus growing to no real benefit of anyone other than the people earning fees for managing it."
Also, if non-cash contributions keep mounting, the rules should change so donors' tax deductions equal the amount available for giving, Colinvaux said.
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Click here to access the article.