Hi everyone. Donor-Advised Funds (DAFs) is not the most riveting of topics, I will admit. Sometimes, when I have insomnia, I read about DAFs, and that usually does the trick, especially when combined with some melatonin. However, they are rapidly growing as a vehicle for charitable giving, have almost no regulations whatsoever, and are rife with inequity. So we all need to care about them.
It seems though that some colleagues are still confused by DAFs and what the problem is and so don’t want to tune in to this conversation. I’m going to explain it simply for those not familiar, so that you don’t fall asleep; apologies to colleagues who are more knowledgeable in this area than I am.
Imagine that you made millions of dollars selling naturally fermented pickle products. After buying yourself a yacht, you think “Huh, I should probably donate some money to charity. That will help people and also prevent me from paying so much in taxes, win-win.”
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