Chuck Collins

Rising like monsters from the deep, donor-advised funds (DAFs) have finally caught up with foundations as the wealthy donor’s charitable warehousing vehicle of choice — and are poised to eclipse them.

As inequality has grown in the U.S., the nation’s charitable system is in danger of becoming a taxpayer-subsidized platform of private power for the ultra-wealthy. This poses risks to the independent nonprofit sector and our society as a whole. It's time for reform — and we have some ideas.

Concerns about warehousing charity dollars and tax subsidies for wealthy donors and perpetual foundations transcend partisan divide.

This report examines the growing wealth of billionaires and other ultra-high net worth individuals in Massachusetts — where voters will have the chance to levy a 4 percent surtax on those making more than $1 million a year this November.