Senate-Passed Stimulus Bill Does Not Include Philanthropy Measures

They include:

* A $15-billion bridge-loan fund that was proposed by Independent Sector, a coalition of charities and foundations. The coalition says the money is needed to help charities that receive late payments from cash-strapped state governments while also facing a tight credit market.

* A “flat” excise tax for private foundations, instead of one that varies between 1 percent and 2 percent, pushed by both Independent Sector and the Council of Foundations. The groups say the current system penalizes foundations that substantially increase their distributions in a given year, thus affecting the five-year average used to determine their tax rate.