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National News Critics take aim at charitable money sitting in donor funds Wealthy philanthropists have long enjoyed an advantageous way to give to charity: Using something called a donor-advised fund, they've been able to enjoy tax deductions and investment gains on their donations long before they give the money away. by Associated Press Jul. 20 2021 @ 5:52pm In this May 12, 2021 file photo, Sen. Chuck Grassley, R-Iowa, speaks during a hearing to examine President Joe Biden's 2021 trade policy agenda. A Senate bill that seeks to speed up philanthropic donations to charities appears to be gai...

Taylor: MacKenzie Scott shows philanthropists 'the way' Dec. 23, 2020 FacebookTwitterEmail 1of5 MacKenzie Scott shows us “This is the Way” at a time when we’re asked to rethink rules around charitable giving, says columnist Michael Taylor.Jorg Carstensen /AFP via Getty ImagesShow MoreShow Less 2of5 H-E-B workers assemble food bags at the San Antonio Food Bank’s Dec. 15 holiday distribution at the AT&T Center. The Food Bank received an undisclosed sum from MacKenzie Scott. She is “one of a handful of national donors, I think, who have seen the story … about the need in San Antonio ...

Why we need tax reform: Billions in charitable donations aren't helping people in need People are hurting. But philanthropic dollars sit in accounts where they accumulate wealth, apparently waiting for some larger crisis to arise. John Arnold Opinion contributor Each December, wealthy people rush to donate billions of dollars to maximize their charitable deductions and shrink their tax bill. Unfortunately, loopholes in tax laws mean donated dollars don’t always go to active charities. Often, philanthropic dollars accrue in funding vehicles — donor advised funds and private foundations —...

The Left Wants a Philanthropy of the Few Major foundations back a proposal that would force smaller donors to spend down their funds. Wonder Land: At the risk of arousing the dark side, 2020’s election results are reason for conservative optimism. Images: Congressional Quarterly via ZUMA Press/Getty Images Composite: Mark Kelly By Elise Westhoff Dec. 14, 2020 6:41 pm ET It takes a fine sense of irony to start the season of giving by trying to limit Americans’ generosity. Yet that would be the outcome of a high-profile legislative proposal unveil...