While megadonor gifts are celebrated, the growing dominance of large donors speaks to an erosion of democratic values. This must be addressed now.
Giving USA 2022 is the gold-standard report on charitable giving in the United States. But this year’s story glosses over two important pieces of long-term context: what has happened to the giving capacity of typical Americans, and where much of the charitable giving has actually gone.
Concerns about warehousing charity dollars and tax subsidies for wealthy donors and perpetual foundations transcend partisan divide.
A new Supreme Court decision enables billionaires to anonymously weaponize their philanthropy.
Critics of Donor-Advised Funds, or DAFs, have long argued that they starve nonprofits of much-needed funds by “warehousing” charitable donations.
Make no mistake: this pandemic is the “rainy day” DAFs and foundations have been saving for.
The mandate would also have both a positive fiscal impact and give a $200 billion boost to active charities.
How Wealth Inequality Distorts Philanthropy and Imperils Democracy
Unchecked, private foundations can become blocks of concentrated unaccountable power with considerable clout in shaping our laws and culture.