Donor Advised Funds Regulation Changes
On November 13, 2023, the U.S. Department of the Treasury (Treasury) released the first in what is expected to be a series of long-awaited regulations interpreting the statute that codifies DAFs, which Congress enacted in the Pension Protection Act of 2006.
Philanthropy California has signed on to the United Philanthropy Forum's public comment, which addressed the following key issues; change in definitions of investment advisors, giving circles, collaboratives/pooled funds, and filed-of-interest funds, impact of the definition of a donor-advised fund and impact on fiscal sponsorship arrangements, scholarship funds, new advisory committee regulation, and the effective date of the DAF regulations and retroactivity. We will continue to monitor the issue and provide updates.
To help funders understand these potential changes and implications, we wanted to share the recording from the United Philanthropy Forum’s recent program, DAF Regulations: A Comprehensive Briefing for the Philanthropic Sector. Additionally, we encourage you to read the National Study on DAFs 2024 report created by the DAF Research Collaborative in collaboration with PSOs and DAF sponsor networks.