Council Submits Letter to Treasury on Forthcoming DAF Regulations

Thursday, October 27, 2016

After meeting with senior officials at the Department of Treasury, the Council submitted a letter on October 21, 2016 to Elinor Ramey, Attorney Advisor in the Office of Tax Policy regarding private foundations and how they may use donor advised funds (“DAFs”) to further their grantmaking activity. 

This letter provides input regarding forthcoming regulations on DAFs, specifically (1) the termination of private foundations into DAFs, and (2) whether recipients of grants from DAFs may treat such grants as public support to qualify for public charity status. These are important issues to our members, and we have urged the Treasury Department and the Internal Revenue Service to proceed thoughtfully when drafting regulations.