The Dark Side of Donor Advised Funds: A Tax Haven for Tech Elites A recent trend is emerging in high stakes philanthropy, where tech millionaires are using donor advised funds (DAFs) to make charitable contributions while minimizing their tax liability.
While the intention behind DAFs may be noble, allowing individuals to reap financial benefits while giving back, the reality is more complex.
According to a study by DAFgiving360, an affiliate of Charles Schwab, three quarters of gifts to their fund over the past year have been non cash assets, including shares in private companies like Anthropic and OpenAI.