Thursday, November 04, 2004

Donor Advised Fund Reforms Welcomed

Based on hearings that took place last June, and its own research, the US Senate Finance Committee’s staff has proposed a number of recommendations to more closely regulate donor advised funds. The Non-Profit Times reports that these reforms are being welcomed by a number of leaders in the field.

The National Philanthropic Trust, along with other leading providers of donor advised funds, has always supported strict compliance with existing tax law, and has been a leading advocate for establishing model standards of practive. In fact, NPT, and a number of peers, are already doing what these proposals recommend.

While a couple of the proposals should be modified, to ensure the costs of providing this valuable charitable giving vehicle remain as low as possible, and the details of others still need to defined, overall it should help the market as a whole.


Anonymous said...


My name is Michael Carew and I am a single, custodial father of three children ages 2, 6, and 12. I was married for 10 years before I separated from my wife. My divorce lasted over three years and it completely devastated my life as well as the lives of my children. It was a hateful, ugly divorce that was completely unnecessary. I am a disabled combat veteran of the US Army with an Honorable Discharge. In addition, I have ADHD and I recently learned that my 12-year old son Eric has it as well.

I fought long and hard to gain custody of my three children to protect them from the violence of an alcoholic, abusive mother. The mother viciously attacked me, filing bogus protection orders and even throwing me into jail on false charges to try to gain some sort of legal leverage over me. I defeated all of these actions and in the end I prevailed. My divorce was finalized on 8-2-04, and I was forever awarded custody of my three beautiful children.

Sadly though, the cost of fighting the mother’s attacks and the cost of the divorce battle left me financially bankrupt and in debt $35,000.00. With my job, I do not qualify for assistance yet I do not make enough to make ends meet or pay off my debt. I lost everything including my house, my cars, my retirement, and all of my savings. My credit is ruined and I cannot get a loan and the bill collectors will not leave me alone. I just moved into a tiny apartment with the broken furniture of a broken life. Soon, I will lose my car and then lose my job. My elderly parents live in NJ and I have no friends due to my new job. I will never be able to provide for my children because the debt I owe will always prevent me from obtaining anything substantial. Broke and alone, it is with the deepest of bitter ironies that I am incapable of giving a future to the children I fought so hard to protect.

There is a saying, “It was all worth it.” I look at my children and desperately wonder how to make this saying come true. I beg you, I am desperate. Someone please hear my voice and help me give a future to my children.

God Bless You Always,

Michael Carew
555 Spring Park Center Blvd. # 3108
Spring, TX 77373

Gloria said...

Hi, I am a 56 year old woman that has a unfair divorce debt also of 32,000. This was ordered by the judge based on an unfair evaluation of my assests. Mortgage agent and loan officer noted unfair. I am too old for this debt based on my income of $10-20,000/ yr. I had not ever had a debt before. My ex attemted to cheat,and I ended up paying more and in debt when I did not want this. I ideally if 32,000 people could send me a $1.00 I could get out of this burden. Any help appreciated. I have been laid off for almost a yr.I pray that any philantropist come forward to help. Debt was started beginning of 2006,and I am tired of it.Appreciate help. Gloria Roettger 118 E. 2nd Ave. Milltown,WI 54858

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