Charitable giving firm seems surge
Insurance News Net
April 11, 2014
“Donor-advised funds outnumber private foundations 2-to-1 now,” said Kevin Laskowski, senior research and policy associate at the National Committee for Responsive Philanthropy in Washington, D.C.
But their proliferation has raised concerns about the potential for abuse. Although industry leaders like Renaissance have a solid reputation in the philanthropic community, Laskowski said unscrupulous providers could tie up fund assets indefinitely.
He also questions the wisdom of awarding immediate tax deductions for donations that might not find their way to charities for years.
“In some sense, the gifts are incomplete because the money hasn’t gone on to do the work other charitable gifts would do,” Laskowski said, raising the possibility of so-called “warehousing” of funds.
