Amid the debates over President Obama’s proposal to reduce tax breaks for affluent donors, a study released today shows that half of wealthy Americans say their charitable giving would be unaffected by the elimination of federal tax provisions designed, in part, to spur philanthropy.
The nation's largest foundations only gave $1 out of $3 to benefit the economically and socially disadvantaged, according to the Criteria for Philanthropy at Its Best: Benchmarks to Assess and Enhance Grantmaker Impact, released yesterday by the National Committee for Responsive Philanthropy.
House Republican Leader John Boehner calls President Barack Obama’s proposal to limit high earners’ charitable tax deductions a “sharp blow to charities at a time when they are hurting during the economic downturn.”
A new Foundation Center research advisory, "Grantmakers Describe the Impact of the Economic Crisis on Their Giving," examines how foundations expect their 2009 giving to be affected by the economic downturn. The advisory looks at public statements made by more than one-third of the 100 largest U.S. foundations by giving and 35 other foundation and corporate funders that have described their plans, ranging from raising payout rates to reducing administrative costs to cutting programs altogether.
When the going gets tough, the tough go shopping.
The language of "crisis" and "recession" is starting to give way to the language of "stimulus" and "recovery" following President Obama's signing of the American Recovery and Reinvestment Act last week. To help America's nonprofit sector make recovery a reality, the National Council of Nonprofits today issued two special reports on the new stimulus law and what it means for community-based organizations.
A national expert on nonprofits who will speak in Colorado Springs on Friday estimates that, because of the bad economy, 100,000 of the nation's 1.3 million nonprofit organizations will collapse this year from frozen lines of credit, late payments by government entities and lack of efficient management.
A majority of affluent Americans say their charitable giving would be unaffected by the elimination of federal tax provisions designed, in part, to encourage philanthropy, according to a new study by Bank of America and Center on Philanthropy at Indiana University.
The North Carolina Symphony has all the money it needs. But in this economy, the orchestra isn't allowed to touch it.
As President Obama seeks to reduce the value of the charitable deduction for wealthy Americans, fund raisers and other nonprofit experts are divided over whether his idea would cause any substantial change in charitable giving.
