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Philanthropy in Democratic SocietiesHistory, Institutions, Values$
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Rob Reich, Chiara Cordelli, and Lucy Bernholz

Print publication date: 2016

Print ISBN-13: 9780226335506

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226335780.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 22 October 2019

When Is Philanthropy?: How the Tax Code’s Answer to This Question Has Given Rise to the Growth of Donor-Advised Funds and Why It’s a Problem

When Is Philanthropy?: How the Tax Code’s Answer to This Question Has Given Rise to the Growth of Donor-Advised Funds and Why It’s a Problem

Chapter:
(p.158) Six When Is Philanthropy?: How the Tax Code’s Answer to This Question Has Given Rise to the Growth of Donor-Advised Funds and Why It’s a Problem
Source:
Philanthropy in Democratic Societies
Author(s):

Ray D. Madoff

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226335780.003.0007

What happens when dollars have been set aside for charitable use, but have not yet been put to use. When do we call that philanthropy? When should we? This chapter begins with a general discussion of how technical tax rules can have a profound effect in shaping our philanthropic world. I then turn to examine the case of donor advised funds, the fastest-growing vehicle of charitable giving, to explore how the technical rules governing the charitable deduction laid the groundwork for their meteoric growth. I then explore whether the growth of donor advised funds is a problem and concluding that it is, I consider various options for how Congress should address the problem of donor advised funds. Finally, I conclude with a brief discussion of other forms of charitable giving that raise similar concerns and suggest ways of addressing them.

Keywords:   philanthropy, Donor Advised Funds, DAFs, charity, charitable tax policy, charitable deductions, public charities, private foundations

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