By
Kathleen Stephenson
and Lisa Petkun
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The staff report suggests imposing many restrictions on DAFs, including the following: contributions other than cash or publicly traded securities to a DAF would have to be sold within one year of the contribution; DAFs would be prohibited from making grants to a non-operating private foundation or to individuals; DAFs would be required to meet an annual payout requirement similar to that applicable to private foundations; and DAFs would be required to obtain an acknowledgement from the grantee that the grant will not convey a private benefit to the donor.
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Kathleen Stephenson
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Lisa Petkun
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