Season 2, Episode 3
Initially billed as a tool to give individual donors more control over their giving activity and accelerate charity, Donor Advised Funds (DAFs) have become controversial in the world of philanthropy. On top of the generous tax-savings these funds provide their donors, how, where, or even if the money gets distributed faces next to no official scrutiny, leading to charges that DAFs are more stealth-vehicles for wealthy patrons to dodge the IRS than legitimate charitable enterprises. On this episode of Renegade Capital, we invite Kat Taylor to discuss the problems with DAFs and the legislation currently on the table that aims to reform them.
About Kat Taylor.
Having lived through the tumultuous 1960s, Kat Taylor vividly remembers that era’s struggles for justice and equality. Those fights against bigotry and brutality remain unresolved to this day, and Kat is committed to being an ally against the exploitative economies that undermine the American dream for so many. Through her office, she works in service of restoring social, racial, and gender justice and environmental well-being for an equitable and inclusive world by championing legislation in her home state of California. Currently, she serves as Co-Founder and Board Chair of Beneficial State Bank, a Community Development Financial Institution and certified B Corporation that makes banking more accessible to underserved communities in an economically and environmentally sustainable manner – and aims to change the banking system for good. Kat is also a member of the Initiative to Accelerate Charitable Giving, a coalition advocating for common-sense reforms to get more resources into the hands of working charities faster. Her recent activity has put a spotlight on the many problems with Donor Advised Funds as a charitable vehicle, a perspective we are grateful to have on Renegade Capital.
Renegade Capital Tools & Tips
A renegade not only listens but acts. We've consolidated a few tips from this episode to help you invest in local communities.