kaal:claim:3981021-007

Because boards and donors seek to preserve endowments rather than spend them, funds accrue tax free long after the donor has taken the deduction, which runs counter to the spirit of the rules governing charitable deductions and may contribute to harmful inefficiency.

Source quote, verbatim

Rather than funds being employed immediately, the funds are allowed to accrue tax free. 49 This may run counter to the spirit of the rules governing charitable deductions and may contribute to harmful inefficiency.

From

Wulf A. Kaal, How Decentralized Autonomous Organizations Optimize Charitable Giving (2021), Motivation, Tax Free Cash Hoarding, p. 13
https://ssrn.com/abstract=3981021 · source PDF

Cite as

Wulf A. Kaal, How Decentralized Autonomous Organizations Optimize Charitable Giving (2021). SSRN: https://ssrn.com/abstract=3981021

Holds when

jurisdictions granting an immediate deduction with deferred payout obligations

Classification

failuresupport: arguedfailure: Tax free cash hoardingfamily: board-and-oversight-failurelaw-and-legal-systemsrisk-and-incentiveseconomics

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