TALKING POINTS: House of Representatives We urge you to demonstrate your support for philanthropy by the IRA Expansion Bill Name. We urge you to demonstrate your support for philanthropy by reenergizing this bill and co-sponsoring the Private Foundation Excise Tax Simplification Act of 2015. Support IRA Expansion Bill Name (Bill #) Note: private foundations may not lobby on this topic. On ______, Representatives George Holding (R-NC-13) introduced the bill name (bill #) with names as co-sponor(s). This legislation would expand the IRA charitable rollover to allow contributions to donor advised funds (DAFs), others. It would also lower age. The IRA charitable rollover was passed by Congress and signed into permanent law by President Obama on December 18, 2015 as part of the Protecting Americans from Tax Hikes (PATH) Act. Though this legislative victory marked a momentous occasion for philanthropy, it failed to acknowledge that community foundations make as much as two-thirds of their grants from donor advised funds (DAFs). DAFs are one of many philanthropic tools available for Americans to direct their philanthropic giving to support programs that build their communities, and remain involved in supporting the causes and issues they care about. Community foundations, in particular, enable people to “give where they live” through such tools, and employ experts with in-depth community knowledge to manage DAFs. Support the Private Foundation Excise Tax Simplification Act of 2015 (H.R. 640) On February 2, 2015, Representatives Erik Paulsen (R-MN-3) and Danny Davis (D-IL-7) introduced the Private Foundation Excise Tax Simplification Act of 2015. Co-sponsored by Representatives Tom Reed (R-NY-23), and Ryan Costello (R-PA-6), this bill would simplify the excise tax rate on the net investment income of private foundations to a flat rate of 1%. The current private foundation excise tax is difficult to administer. Due to its overly complicated, two-tier structure, it often creates a disincentive when foundation consider increasing giving for unanticipated grants in times of need—such as natural disasters or tragedies. In fact, current law actually can penalize foundations with higher tax rates for increasing giving during times of extraordinary need.
TALKING POINTS: House of Representatives We urge you to demonstrate your support for philanthropy by this resolution. We urge you to demonstrate your support for philanthropy by joining and becoming active in the Philanthropy Caucus. Support House Resolution (H.RES.) 668 On March 23, 2016, Philanthropy Caucus Pat Tiberi (R-OH-12) and John Lewis (D-GA-5) introduced a Resolution to express the sense of the House of Representatives that philanthropy is an integral partner to government with a unique and proven ability to foster innovation, strengthen civil society, and build thriving communities. Join the Philanthropy Caucus The House and Senate Philanthropy Caucuses were established in 2007 and 2008, respectively. Their purpose is to inform members of Congress and their staff about the important role that philanthropy and individual foundations play in their communities and around the world. The House Philanthropy Caucus Co-Chairs are Pat Tiberi and John Lewis (D-GA-5). Recent past Philanthropy Caucus events include: UPCOMING: Philanthropy Week in Washington Reception – Thursday, April 14th, 4:30-6:30pm, SVC 203-02 Lunch briefing on Opportunities to Encourage Charitable Giving – October, 2015 Philanthropy Week in Washington lunch briefing: The Power of Philanthropy in Your District– March, 2015