Johnny Did get the tax deductions for the $200K he sent ACLU/CHLA as noted in the divorce agreement
Bottom Page 251 https://www.fairfaxcounty.gov/circuit/s ... 1_2019.pdf
My understanding is the Charity Groups Elon (Musk Foundation) used can be used by anyone. He designates where and when the money is to be donated. In addition, the money held there is invested and expected to grow. The proceeds continue to be donated again he can claim that as a tax deduction too. Also, much of what Elon put into Vanguard & Fidelity was stock from Tesla - not cash.
https://www.vanguardcharitable.org/?gcl ... pMQAvD_BwE
https://chiefmomofficer.org/2017/12/18/ ... sed-funds/
What is a donor-advised fund?
A donor-advised fund (DAF) is a charitable giving account designed exclusively to invest, grow, and give assets to charities for meaningful and lasting impact. Here's how it works: You donate assets into a DAF and recommend how those assets should be invested. Your contribution is tax-deductible and the assets in the DAF grow tax-free. When you're ready, recommend a grant to a charity you care about, and we take care of the rest. Some people call it a giving vehicle. Others call it a philanthropic fund. We call it the most convenient, tax-efficient way to give back.
With a donor advised fund, you don’t need to just have the cash sitting around to open the account. With Fidelity, for example, you can donate appreciated stock, privately held business interests like IPO shares, real estate, and more. Vanguard also allows publicly traded securities, mutual funds, and complex assets on a case-by-case basis (there are higher minimums for the complex assets). If you donate an appreciated asset, you not only avoid paying taxes on the appreciation, but you can also get a tax deduction for the amount of your contribution when you make it. Your contribution then grows tax-free until you choose to disburse it in the form of a charitable gift. At Fidelity, you can even have third parties make contributions to the account too – so if you’re tired of, say, Christmas materialism and want instead to make a difference, you can ask others to contribute to your donor advised fund.
Re Musk Foundation (which uses Vanguard and Fidelity too). https://qz.com/1911485/elon-musks-chari ... tax-haven/
https://qz.com/1911485/elon-musks-chari ... tax-haven/
Between 2002 and 2015, the foundation gave away an average of $493,801 per year, with assets dropping to $57,000 in 2015. But the balance increased dramatically the next year with Musk’s contribution of 1.2 million shares of Tesla stock, kicking off a string of substantial donations—most of them to financial institutions that began managing his philanthropy.
2017 Fidelity Charitable Gift Fund $12,431,640 Donor advised fund For Public Charity Support
2016 Vanguard Charitable $37,798,322 Donor advised fund For Public Charity Support