Abstract
Each and every sponsoring organization maintaining donor-advised funds – as well as each donor – is subject to a host of requirements under existing law to ensure that charitable funds are used exclusively for charitable purposes. Beginning with the requirements of the “operational test” for tax exemption and continuing through focused penalty provisions (which are not yet fully implemented), the foundation is in place to enforce compliance and prevent abuses, with much room for additional regulatory guidance and enforcement. Ensuring that charitable funds are properly used depends on rigorous employment and enforcement of these rules of general application, and not on arbitrary classifications and labels imposed on sponsoring organizations.
Files
Metadata
- Subject
Administrative Law
Banking and Finance Law
Business Organizations Law
Law and Economics
Law and Society
Legislation
Taxation
Taxation-Federal Estate and Gift
- Event date
23 October 2015
- Date submitted
8 September 2022