Philanthropic Impact


Information and Resources for Donors and Professional Advisors

Drawing up a budget: Federal springtime process begins

President Biden’s fiscal year 2025 budget requests are hot off the press.

Included in the revenue proposals are provisions that eliminate counting payments to certain “disqualified persons” (including family members) as part of a private foundation’s annual 5% payout requirement. The proposals also include limitations on private foundations’ grants to donor-advised funds by requiring that those funds be paid out to charities by the end of the following tax year.

Of course, these and all of the other budget requests are a long way away from becoming law.

We’ll keep you posted! We’ll also keep you posted on the status of the proposed donor-advised fund regulations. A hearing is scheduled for May 6, 2024.

Learn more about Donor Advised Funds