DAF Kickbacks

An unethical practice is widespread among charities with donor-advised fund (DAF) programs. Financial advisors1 benefit financially from promoting and facilitating the contribution of their clients' funds to charities. These deals, in which donors' advisors are encouraged to do what may not be in their clients' best interests, do not violate federal law because of a loophole in the Philanthropic Protection

Bruce B. Makous | Jul 01, 2005

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An unethical practice is widespread among charities with donor-advised fund (DAF) programs. Financial advisors¹ benefit financially from promoting and facilitating the contribution of their clients' funds to charities. These deals, in which donors' advisors are encouraged to do what may not be in their clients' best interests, do not violate federal law because of a loophole in the Philanthropic Protection Act of 1995.² Advisors should check to see whether they are

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