| In the past year, various issues have emerged in the world of philanthropy that will affect how and what our clients give. These issues are reflected in the topics of our 2023 Charitable Giving Special Report. For example, more donors are considering gifts of cryptocurrency. As Alexandra Pia Brovey notes in her article, “Charitable Giving Trends: A Brief Overview,” p. 25, donors—especially young donors— are choosing this gift option as it allows for anonymous and secure giving and is considered innovative. And as Ali Bedford points out in “Year-End Federal Policy for Donors and Advisors to Watch,” p. 22, crypto’s growing user base has drawn congressional attention regarding how digital assets should be taxed, and Congress is now considering different approaches to the taxation issue. Ali’s article also touches on another issue that’s been drawing congressional attention—the use of donoradvised funds (DAFs). Some academics and philanthropists view DAFs as a place to park charitable dollars, and Congress is considering proposed reforms to avoid perceived abuses.
Practitioners working with donors who want to make large gifts also need to be mindful of preserving donor intent when drafting gift agreements. “Defining a Philanthropic Legacy Through Donor Intent,” p. 42, by Sara Barba and Joanne Florino, lists numerous instances in which organizations that have received gifts have been able to ignore donor intent when it comes to how the gifts are used. This too is an area in which legislative action, in this case by states, may be required to ensure that donor intent is respected.
— Susan R.Lipp
Editor In Chief
[email protected]
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