May 22, 2013, 12:00 - 1:30 PM - Hudson Institute, Washington, D.C. Headquarters
Warehouses of Wealth?
Event DescriptionThe Chronicle of Philanthropy survey on the nation's largest donor-advised funds found that donor-advised funds are accumulating assets at a far faster pace than nonprofits and foundations. Worth almost a third more than they were before the recession, donor-advised funds received 46 percent more in donations in 2012 than 2011.
That's a stark contrast to nonprofits, which attracted just 7 percent more in contributions, according to The Chronicle's ranking of the 400 charities that raise the most, and big foundations, whose assets grew by 4 percent according to the newspaper's latest study. But the runup in donations -- Fidelity Charitable is now as big as the nation's third largest foundation -- has prompted critics to suggest that payout rules are needed so that the funds don't simply become warehouses of wealth.
On May 22nd, the Bradley Center hosted a panel discussion on this timely topic. Joining us was Ray Madoff from Boston College Law School, Chronicle of Philanthropy reporter Sarah Frostenson, DonorsTrust President Whitney Ball and Gregory Baker of the Renaissance Charitable Foundation. Hudson Institute Senior Fellow William Schambra moderated the discussion.
Required ReadingAlan M. Cantor, "Donor-Advised Funds are Booming, but Nonprofits See Little Benefit" The Chronicle of Philanthropy, May 23, 2013.
Sarah Frostenson, "Donor-Advised Funds Keep Up Rapid Growth" The Chronicle of Philanthropy, May 23, 2013.
Program and Panel11:30 a.m.
Registration, lunch buffet
Introduction by Bradley Center Director William Schambra
Gregory W. Baker, President of Renaissance Charitable Foundation
Whitney Ball, President & CEO of DonorsTrust
Ray Madoff, Professor at Boston College Law School
Sarah Frostenson, Reporter for the Chronicle of Philanthropy
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