Senate Bill Proposes Dramatic Changes for Donor Advised Funds and Private Foundations | Patterson Belknap Webb & Tyler LLP
To embed, copy and paste the code into your website or blog: On June 9, 2021, United States Senators Angus King (Ind.-MA) and Charles Grassley (R-IA) announced plans to introduce the “Accelerating Charitable Efforts Act” or the “ACE Act” (the “Act”) which, if adopted, would implement significant changes with respect to the rules surrounding donor advised funds (“DAFs”) and private foundations. The proposed changes, already being hotly debated in the philanthropic community, would, among other things, mandate operational changes for DAF sponsoring organizations and offer fina...
Source: jdsupra.com