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From: Philanthropy Today
Subject: Foundations Dip Into Endowments to ‘Meet the Moment’
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Trump administration officials are exploring ways to challenge nonprofits’ tax-exempt status, sources told the Wall Street Journal. Various top Internal Revenue Service lawyers have “privately discussed the nonprofit rules with agency officials, including those at the tax-exempt division,” and plan to investigate “the tax-exempt status of a select group of nonprofit organizations,” without naming specific groups. Meanwhile, White House officials are looking for ways to target groups’ tax-exempt status and their endowments, a source said. A spokesman for the IRS did not respond to a request for comment, while a Treasury Department spokeswoman said, “It is the job of any agency counsel to meet with department teams to ensure a fulsome understanding of all rules and processes.” The administration has denied that it is preparing an executive order seeking to strip away nonprofits’ tax-exempt status. (Wall Street Journal — subscription)
With the gutting of the federal AmeriCorps program, service groups across the country are cutting back, and some could even close. The agency sent 200,000 volunteers and hundreds of millions of dollars to local groups that repair homes for low-income families, manage community gardens, mentor children, and perform other services. Some organizations have patched together more private donations, but philanthropy cannot match the federal support that stood behind AmeriCorps. “It’s not sustainable in the long term, because those investments historically have been part of the puzzle, not the whole puzzle,” the head of a volunteer agency in Louisiana said. (Associated Press)
More on Cuts to AmeriCorps and Other Services
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