Many philanthropically minded individuals have found donor-advised funds (DAFs) to be strategic and tax-efficient vehicles through which to channel their charitable giving. DAFs are housed with a sponsor non-profit with grants distributed upon the donors’ direction to any U.S. organization with an active 501(c)(3) status.
Recently, three of the largest DAF sponsors in the country elected to deny grants to Southern Poverty Law Center (SPLC), a 501(c)(3) organization with a long history of fighting for justice, equity, and democracy. Fidelity Charitable, Vanguard Charitable, and Schwab Charitable all refused to honor donors’ grant requests to SPLC, citing self-imposed policies to not make grants to non-profits with pending judicial charges. With the closing off of grants from these three major DAF platforms, the Department of Justice has significantly restricted an important fundraising channel for SPLC. Given all the actions we’ve seen from this administration, many people are concerned that these criminal charges brought against SPLC are politically motivated, with the aim of constricting a pipeline of grant dollars to the organization.
Fortunately, mega financial institutions are not the only ones that host DAFs. We have a terrific alternative here in our own backyard, the Cambridge Community Foundation (CCF), which holds DAFs for individuals and families like my own. It does not restrict our giving, so as advisors to our DAFs, we can direct grants to any 501(c)(3) organization, whether it’s a small non-profit focused on food security in Cambridge or a national charity tackling climate change … or the SPLC.
Lauren Cosulich / Brattle Street, Cambridge
Fund holder and CCF Board member
A stronger
Please consider making a financial contribution to maintain, expand and improve Cambridge Day.
We are now a 501(c)(3) nonprofit and all donations are tax deductible.
Please consider a recurring contribution.