New Report: Gilded Giving 2022
We estimate in Gilded Giving 2022 that if foundations had a 10 percent minimum payout and DAFs had a three-year mandated payout between 2018 and 2020, at least $193 billion in additional donations would have flowed to charities.
“As wealth concentrates in fewer hands, it causes troubling distortions in the charity sector,” noted Chuck Collins, director of the Charity Reform Initiative at the Institute for Policy Studies and co-author of the report. “When wealthy donors can claim big tax deductions for charitable giving to private foundations that they control in perpetuity, it allows them to opt out of paying their fair share in taxes to support the systems on which we all depend. This effectively enables already powerful multi-millionaires and billionaires to maintain a taxpayer-subsidized form of private power and influence.”