NP Times / Special Report: Donor Advised Fund Reform Appears Near

NP Times / Special Report: Donor Advised Fund Reform Appears Near: "Special Report: Donor Advised Fund Reform Appears Near
By Robert Ford
The days of semi-regulated donor advised funds (DAF) might be numbered as the U.S. Senate Finance Committee looks to clamp down on a sector that has had abuse allegations.
Yet, among the largest DAFs, there already appears to be acceptance of some of the committee�s propositions. �Reforming donor advised funds is a large philanthropic issue,� said Benjamin Pierce, executive director of the Malvern, Pa.-based Vanguard Charitable Endowment Fund. With DAFs becoming so successful and with little regulation, it is an area ripe for abuse.
Some regulations on DAFs might come as soon as this fall, with more sweeping change likely in 2005, according to Jill Gerber, spokeswoman for the Senate Finance Committee."