The California Association of Nonprofits recently helped introduce California bill AB 1712, which would mandate greater transparency around donor advised funds (DAFs) through annual reporting requirements, promoting best practices, and requiring minimum annual distributions. Opponents, however, say it violates the privacy of the individual fund donors, as well as fund advisors who make grant recommendations.
This in-depth discussion of the pros and cons of this bill between interested parties, including Cal Nonprofits and the League of California Community Foundations. It’s an issue of critical concern to the social sector. Contributions to DAFs rose 16.5% from 2016 to 2017, and grants from donor-advised funds to qualified charities increased nearly 20% during the same period.
Jan Masaoka, Chief Executive Officer, California Association of Nonprofits
Jan Masaoka is CEO of the California Association of Nonprofits (CalNonprofits) a statewide policy alliance and the voice for California’s nonprofit community. Jan is also a nationally recognized writer, researcher and speaker, with a focus on nonprofit business planning, boards of directors, and the role of nonprofits in society. Before CalNonprofits, Jan was the 14-year executive director of CompassPoint, a nonprofit consulting/training firm She also founded and wrote Blue Avocado magazine, growing it to 64,000 subscribers before leaving in late 2015.
Jan was named Nonprofit Executive of the Year by Nonprofit Times, and is an eight-time designee as one of the "Fifty Most Influential” people in the nonprofit sector nationwide.
Dan Baldwin, President & Chief Executive Officer, Community Foundation for Monterey Count
Dan is President & CEO of the Community Foundation for Monterey County. He also serves as chairman of the Public Policy committee for the League of California Community Foundations.
Nageeb Sumar, Vice President, Philanthropic Strategies, Fidelity Charitable
Nageeb Sumar is an expert on philanthropy and global development diplomacy, with over 15 years of experience partnering with organizations and philanthropists to create global change. He joined Fidelity Charitable in September 2018 as Vice President of Philanthropic Strategies, partnering with the nation’s most generous donors in their efforts to catalyze social change in the US and abroad.
Previously, Nageeb worked at the Bill & Melinda Gates Foundation's D.C. office, where he oversaw an international team which engaged governments, foundations and philanthropists to improve the overall effectiveness of the charitable sector. From 2009 - 2015, Nageeb spearheaded the Gates Foundation's strategic partnerships with various G20 governments that provide international aid. He acted as the Gates Foundation's lead representative and spokesman in Canada and Australia across all global issue areas, oversaw its partnership with Japan and Korea, and strengthened its partnership with the US government around polio eradication and childhood vaccines. Nageeb began his career at Oxfam America, where he helped develop and train community savings groups. Through his international engagements, he has work experience in 17 countries and foundation grantmaking experience in 9 countries.
At Fidelity, Nageeb oversees a team of philanthropic strategists, who guide individuals and families through their philanthropic journeys, consult on domestic and international grant recommendations, and help connect donors with similar charitable goals.