Proposed Donor-Advised Fund Regulations

credit: WikiTravel

If new rules are put into place, it could be a lot harder for the rich to sock away money for retirement.

The Wall Street Journal reports the Treasury Department has proposed new regulations that would limit the use of so-called "donor-advised funds" by high-net-worth individuals.

These funds are typically used by the rich to sock away money for retirement, but they can also be used for other purposes, such as paying for college educations.

The new rules would limit the use of such funds by individuals who make more than $1 million a year, and they would apply to those who make more than $5 million a year.

The new rules would also apply to individuals who make more than $10 million a year, and they would apply to those who make more than $25 million a year.

Fidelity Charitable, a not-for-profit that manages these funds, says the new rules could raise fees for many of its donors, and it wants the government to intervene to stop the use of such funds by high-net-worth individuals.

The new rules were proposed in November 2023, and the IRS received more than 1,000 comments on them, according to a post on the department's website.

The new rules are expected to be finalized before the end of

Read the Entire Article

Selected Grant News Headlines

A customized collection of grant news from foundations and the federal government from around the Web.

$30 Trillion in U.S. Wealth Will Transfer to Younger Women in the Next 10 Years

Women currently hold just 28% of the world's wealth, but that could soon change. A new study from the Bank of America Institute finds that by 2030, women in the US will hold more than half of the...more

World'S Largest Climate Finance Fund Explains Investment Approach

The Green Climate Fund is the world's biggest dedicated fund designed to help developing countries mitigate and adapt to climate changeand it's looking for new investments. Henry Gonzalez, the...more

M3F Music Festival Funds Art Programs, Other Nonprofits in Arizona

For two days in March, music fans gathered in Phoenix's Steele Indian School Park for the McDowell Mountain Music Festival, which featured electronic dance music (EDM), R&B, and indie rock. But...more

Study: 36% of Nonprofits Have Seen Funding Growth After 2022-23 Financial Upheaval

When it comes to fundraising, not much is known about corporate donors. But when it comes to targeting them, not much is known about corporate donors at all. That's according to UHY Advisors'...more

Uapb Chancellor'S Scholarship Gala Celebrates Philanthropy and Elegance
Foundation: Rockefeller Foundation, Winthrop Rockefeller Foundation

The University of Arkansas at Pine Bluff is honoring five people for their "extensive community involvement, philanthropic endeavors, and exemplary service to the community," per a release. The...more

Uniting Through Volunteerism: National Volunteer Month Q&Amp;A with Besa

"I was working in corporate America for one of the world's largest retail companies, and it was challenging and wonderful in many ways. But I was finding my truest fulfillment on Saturday...more

Firstbank Charitable Foundation'S Better Giving for Greater Impact Summit

If you're looking for a way to give back to your community, FirstBank has just the thing for you. The bank's Charitable Foundation is holding its first-ever Better Giving for Greater Impact...more

Gresb Announces Majority Investment from General Atlantic'S Beyondnetzero Fund to ...

It's a sign of the times: A real estate research firm has been bought by a private equity firm in a deal that values the company at more than $1 billion. The New York Times reports on GRESB's...more

Unicef Backs Young Innovators To Tackle The Climate Crisis

"The climate time-bomb is ticking. We need to seize the opportunity to invest in credible innovations that can contribute to reaching our global targets," UN Secretary-General Ant ? nio Guterres...more

Greenmoney: Investing in the Future of Water and Sanitation

Matt Damon and Gary White are putting their money where their mouth is. The two are co-founder and CEO of WaterEquity, a nonprofit that aims to improve access to safe water and sanitation around...more

Social Entrepreneurship

Why People Buy from Social Enterprises?

The Guardian has compiled a list of responses to its latest open thread, and has announced the winner of the social enterprise gift hamper packed with presents.

Federal Government Grant and Assistance Programs

Environmental Quality Incentives Program | Brownfields Training, Research, and Technical Assistance Grants and Cooperative Agreements | Global Threat Reduction | Mortgage Insurance_Combination and Manufactured Home Lot Loans | Urban and Community Forestry Program | National Institute of Justice Research, Evaluation, and Development Project Grants | Alternate Non-Emergency Service Providers or Networks | Supplemental Revenue Assistance Program | | Site Style by YAML | | Grants | Grants News | Sitemap | Privacy Policy

Edited by: Michael Saunders

© 2008-2024 Copyright Michael Saunders