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Debate amid pandemic: Should foundations have to give more?

Debate amid pandemic: Should foundations have to give more?
lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.

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Taylor: MacKenzie Scott shows philanthropists 'the way'

Taylor: MacKenzie Scott shows philanthropists the way
Dec. 23, 2020
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MacKenzie Scott shows us “This is the Way” at a time when we’re asked to rethink rules around charitable giving, says columnist Michael Taylor.Jorg Carstensen /AFP via Getty ImagesShow MoreShow Less
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H-E-B workers assemble food bags at the San Antonio Food Bank’s Dec. 15 holiday distribution at the AT&T Center. The Food Bank received an undisclosed sum from MacKenzie Scott. She is “one of a handful of national donors, I think, who have seen the story … about the need in San Antonio and how the community is responding,” says Michael Guerra, the food bank’s chief development officer.Bob Owen /Staff photographerShow MoreShow Less ....

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Why reform of charitable giving laws would help more people in need

Why we need tax reform: Billions in charitable donations aren t helping people in need
People are hurting. But philanthropic dollars sit in accounts where they accumulate wealth, apparently waiting for some larger crisis to arise.
John Arnold
Opinion contributor
Each December, wealthy people rush to donate billions of dollars to maximize their charitable deductions and shrink their tax bill. Unfortunately, loopholes in tax laws mean donated dollars don’t always go to active charities.
Often, philanthropic dollars accrue in funding vehicles donor advised funds and private foundations rather than being distributed to worthy nonprofits in a timely manner. Without sufficient rules in place, that money is likely to linger, out of reach of families and neighbors who need help. ....

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The Left Wants a Philanthropy of the Few

The Left Wants a Philanthropy of the Few
Major foundations back a proposal that would force smaller donors to spend down their funds.
Wonder Land: At the risk of arousing the dark side, 2020’s election results are reason for conservative optimism. Images: Congressional Quarterly via ZUMA Press/Getty Images Composite: Mark Kelly
By
Elise Westhoff
Dec. 14, 2020 6:41 pm ET
It takes a fine sense of irony to start the season of giving by trying to limit Americans’ generosity. Yet that would be the outcome of a high-profile legislative proposal unveiled on Dec. 1, “Giving Tuesday,” conceived by former hedge-fund manager John Arnold and Boston College law professor Ray Madoff. The proposal would stifle Americans who want to support worthy causes but aren’t superrich. It would also further the goals of progressive politicians who seek to punish charitable giving they don’t like and can’t control. ....

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