Two prominent critics of donor-advised funds lay out their case against the fast-growing giving vehicles in an essay for The New York Review of Books, calling them “a bad deal for American society.”
Reiterating arguments they have made in other outlets (including The Chronicle), Boston College law professor Ray Madoff and nonagenarian philanthropist Lewis Cullman write that DAFs, as they are known, represent “a major flaw in the financing of charities today,” stockpiling billions of dollars in donated funds with no timeline for putting them to philanthropic use.
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