Council on Foundations Opposes the Accelerating Charitable Efforts (ACE) Act

Monday, June 28, 2021

WASHINGTON, D.C. - The Council on Foundations opposes the Accelerating Charitable Efforts (ACE) Act. The bill has several provisions that would negatively impact the philanthropic sector, including:

  • Establishing new and unnecessary requirements for donor advised funds (DAFs).
  • Prohibiting private foundations from including contributions to DAFs as part of their annual payout obligation.
  • Prohibiting the expenses of staff and board members who are also family members at a family foundation from being counted as part of the foundation's payout obligation.
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