Opinion: Donor-Advised Funds Would Face Big Headaches Under IRS Proposal

Amy Freitag, president of The New York Community Trust, writes in Bloomberg Law that proposed new regulations for donor-advised funds would take money and resources away from community-based nonprofits that urgently need them.

Freitag, who leads the community foundation that is credited with creating the first donor-advised fund more than 90 years ago, was among dozens of community foundation leaders who sent comments to Treasury this month in response to the proposed rule changes.

Many leaders believe the proposed changes would stifle giving to local nonprofits and create administrative challenges for the nation’s 900 community foundations.

Read The Trust’s full comments to the IRS, as well as testimony provided on behalf of the field by the Community Foundation Awareness Initiative.