is the protection of philanthropic freedom – the right of Americans to choose how and where to spend their charitable assets. A project of The Philanthropy Roundtable, ACR educates legislators and policymakers about the central role of private charitable giving in American life and the dangers of legislative or political measures that would weaken or constrain the philanthropic freedom that makes such giving possible.
The current two-tiered tax provision is simply a disincentive for foundations to increase giving in any one year.
Bipartisan legislation has been introduced in the House of Representatives that will implement a universal charitable deduction. The Charitable Giving Tax Deduction Act, cosponsored by Reps. Chris Smith (R-NJ) and Henry Cuellar (D-Texas), was introduced May 11 and will allow all Americans to claim a charitable deduction regardless of itemizer status. “Charitable organizations, including churches, […]
>> Federal: Washington Roundup >> Federal: JCT’s Forthcoming “Bluebook” >> Federal: UBIT Expanded to Include Certain Employee Expenses >> Federal: Universal Charitable Giving Act >> Federal: Meetings with Members of Congress >> Consider This: America’s Disappearing Givers >> Top Reads: Working With Donor-Advised Funds: The Basics Washington Roundup Last week, the Senate Finance Committee held a hearing on the […]
Charitable giving in America has never been just for rich people. Throughout our history, Americans of all walks of life have voluntarily given their time and money to help others, support cherished private institutions, and solve problems in their community. Some of the most generous people, proportionate to their income, have been the working poor. […]
Last year Congress passed a comprehensive tax reform for the first time in more than 30 years. The law includes significant provisions that should buoy income growth and thus charitable giving. And the tax deduction for charitable contributions—unlike many others—was preserved. The bill also repealed the “Pease limitation,” which since 1991 had reduced the value […]
>> Federal: Washington Roundup >> Federal: Speaker Ryan to Retire >> Federal: Proposed IRS Changes >> Local: State-level SALT Workarounds >> Federal: Universal Charitable Giving Act >> Consider This: Keeping up with Washington >> Top Reads: A Fading Culture of Giving Washington Roundup Last month, lawmakers passed a $1.3 trillion spending package to fund the government through the end […]
>> Federal: Washington Roundup >> Federal: Tax Reform Glitches and More Cuts >> Federal: ACR Summit for Leaders >> Consider This: Mistakes Were Made >> Top Reads: Foundations Fan Out on Capitol Hill to Press Their Case on Taxes and Other Worries Washington Roundup Last month, lawmakers passed a short-term funding package in their two-year budget deal […]
More than 200 foundation representatives and nonprofit leaders attended the 2018 ACR Summit for Leaders on March 13, our annual policy program held as part of United Philanthropy Forum’s Foundations on the Hill. Coming on the heels of the first comprehensive tax reform legislation in over three decades, attendees were anxious to hear from leaders […]
The Philanthropy Roundtable has submitted public comment to the U.S. Department of Treasury detailing how donor-advised funds (DAFs) are a valuable tool for foundations in fulfilling their charitable purpose. The submission comes as Treasury has solicited public feedback on 1) how private foundations use DAFs to support their charitable purposes, and 2) how transfers of […]
>> Federal: Washington Roundup >> Federal: Universal Charitable Giving Act >> Local: State-level SALT Workarounds >> Invitation: ACR Summit for Leaders >> Consider This: How About Never? >> Top Reads: Outlook for 2018-19 Charitable Giving Mixed Washington Roundup Earlier this month lawmakers passed a bipartisan budget deal that would lift spending levels for defense and non-defense programs over […]