Comment from The Ocean Foundation

Summary: The Ocean Foundation, a 501(c)(3) non-profit organization, opposes the proposed rules because they unfairly penalize non-investment 501(c)(3) entities by taxing distributions to natural persons and imposing burdensome equivalency tests. They argue that these rules hinder charitable work, such as funding scientists and community-led projects, and suggest that the government should instead focus on requiring minimum annual payouts for DAFs.