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Senate Bill Proposes Dramatic Changes for Donor Advised Funds and Private Foundations | Patterson Belknap Webb & Tyler LLP


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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 financial incentives (in the form of both excise taxes and tax relief) to motivate donors, sponsoring organizations, and private foundations to distribute funds to public charities at a rapid pace. ....

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Litigation partner joins A.Y. Strauss


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A Closer Look At The 2021 Am Law 200 Rankings


May 25, 2021 at 12:08 PM
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Ed. note: A version of this column originally appeared on Original Jurisdiction, the latest Substack publication from David Lat. You can learn more about Original Jurisdiction on its About page, and you can subscribe through this signup page.
By now we all know the story of how the Am Law 100 fared in 2020. Contrary to what many of us predicted, the Am Law 100, the nation’s 100 largest law firms by revenue, hit new highs in terms of gross revenue, revenue per lawyer, and profits per equity partner. For Biglaw, last year was a very, very good year. ....

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