Illustration of Elon Musk with a bitcoin.

From Elon Musk and crypto cashouts, more capital flows in than flows out of donor-advised funds

One may have gotten Elon Musk’s $5.7 billion gift of Tesla stock. Others have received hundreds of millions in crypto currency from the Bitcoin bros. Donor-advised funds were key beneficiaries of last year’s soaring value of stock and crypto investments, as owners of those assets sought to offset their tax bills with charitable donations.

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Image with text: Kataly Fundation joins Pl's donor advised funds.

Kataly Foundation Joins Possibility Labs’ Donor Advised Fund (DAF) Pilot with $20M Activation

SAN FRANCISCO–(BUSINESS WIRE)–Possibility Labs (“PL”), a nonprofit empowering racial justice by democratizing funding processes and access to business infrastructure, today announced that organizational partner Kataly Foundation (“Kataly”) has made an inaugural $20 million commitment to PL’s donor advised fund (DAF) pilot.

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People with banners during a march.

$20 Million Contribution Seeks to Spark Donor-Advised Fund Gifts to Groups Led by People of Color

A start-up donor-advised fund has a message for would-be donors: Don’t let your contribution gather dust.

Possibility Labs, which in August began to offer a donor-advised fund with a required annual distribution, today said it has attracted a donation of $20 million from the Kataly Foundation based on its commitment to support grassroots social-justice organizations led by people of color.

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