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Donor-advised funds have come under increasing fire as tax avoidance vehicles for the wealthy. Donors get a charitable gift tax deduction when they transfer money into the funds, but whereas private foundations have to distribute at least 5 percent of assets to charities every year, donor-advised funds face no such payout requirements. Under pressure from More
The post National Philanthropic (Mis)Trust appeared first on CounterPunch.org.
This content originally appeared on CounterPunch.org and was authored by Dan Petegorsky.