A donor-advised fund (DAF) devoted to supporting the United Nations Sustainable Development Goals has leapt from being a relatively minor charity to one with an asset size comparable to behemoths like the Andrew W. Mellon and the David and Lucile Packard foundations.
The SDG Impact Fund, based in Cartersville, Georgia, grew from $238 million in assets in 2020 to $10 billion in 2021. That eye-popping growth, which seems to have been fueled by the meteoric rise of cryptocurrencies and digital art assets, has prompted some questions from philanthropy and tax experts.
The less stringent legal reporting requirements for DAFs compared with private foundations make it hard to understand SDG Impact Fund’s massive growth. It’s impossible to know where donations came from because donor-advised funds are not required to identify donors. Nor is it clear how the DAF put its donations to charitable use or whether donors to the fund are receiving any benefits. SDG Impact’s leaders did not respond to repeated requests for answers to questions related to the fund’s assets, growth, and donations.
Read this story now for free
To continue reading, sign up for our newsletter and get unlimited access to WABE.org
You can select your preferences for news and local content. We will never share your email address. Learn how your newsletter sign-up will support WABE and Public Media
