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New Data and Insights on DAF Payouts Out of Michigan Community Foundations

New Data and Insights on DAF Payouts Out of Michigan Community Foundations
Jul 19, 2021
Patrice Onwuka
Donor-advised funds (DAFs) provide needed resources to local communities, especially during critical times such as the current pandemic. However, these popular giving vehicles face heavy criticism that they do not payout to nonprofits fast enough and Congress may slap them with new federal payout requirements. Durable public policy is driven by sound, data-supported evidence. This study is a good start to building that body of evidence on the use and impact DAFs have in communities around the country.
New research on DAFs housed in community foundations helps to inform policy discussions and runs counter to the underlying criticisms of DAFs. Instead, the research provides evidence that some DAFs are sending the dollars out as quickly as they come in while others are accumulating assets to meet community needs during major crises now and in ....

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CEO Donna Murray-Brown resigns from Michigan Nonprofit Association

CEO Donna Murray-Brown resigns from Michigan Nonprofit Association
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Why the richest Americans can't give money away fast enough

Why the richest Americans can't give money away fast enough
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Funding Dan Gilbert's $500M initiative through stocks not uncommon, nonprofit leaders say

The move this week by Dan Gilbert and his Rock Holdings Inc. to sell shares in Rocket Companies Inc. to raise $500 million to support Detroit neighborhoods is a common practice in philanthropy, experts say.
“It’s not unique,” said Kyle Caldwell, president and CEO of the Council of Michigan Foundations. “Some of our more storied foundations across the country and even in our backyard in Michigan have been developed through the selling of stock.”
When Charles Stewart Mott died in 1973, Caldwell noted, he was a large holder of General Motors stock. The sale of stock helped fund an endowment for the C.S. Mott Foundation, one of Michigan s leading foundations that participated in the grand bargain to speed Detroit s exit from Chapter 9 bankruptcy. ....

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Foundations pursue racial justice in philanthropy - Grand Rapids Business Journal

Foundations pursue racial justice in philanthropy - Grand Rapids Business Journal
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