The $10 billion charity no one has heard of

[Gunnar Larson]

The $10 billion charity no one has heard of:
https://qz.com/the-10-billion-charity-no-one-has-heard-of-1851102877

A donor-advised fund devoted to supporting the United Nations Sustainable
Development Goals has leapt from being a relatively minor charity to one
with an asset size comparable to behemoths...

The SDG Impact Fund, based in Cartersville, Georgia, grew from $238 million
in assets in 2020 to $10 billion in 2021. That eye-popping growth, which
seems to have been fueled by the meteoric rise of cryptocurrencies and
digital art assets, has prompted some questions from philanthropy and tax
experts.

....


They found that most of the donations to the SDG Impact Fund in 2021 came
in the form of noncash assets, such as art and collectibles, as well as
crypto-gifts, including nonfungible tokens, or NFTs, which are unique
digital assets that are often traded as art.

....

Given the dearth of information, Flannery is dubious that much of the $10
billion valuation will ever be directed to actual charities advancing the
U.N. Sustainable Development Goals. She said the lack of information about
who is making donations and how exactly the fund is using them is
symptomatic of the lack of transparency of donor-advised funds.

“We need to make sure that donors aren’t using donor-advised funds for
creative tax avoidance,” she said. “We need to make sure that we’re getting
charitable works back.”
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