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From: Philanthropy Today
Subject: Opinion: The Tax Bill Is a Wake-Up Call for Wealthy Foundations, Nonprofits
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![alinahh [NB-this lowercase usage is correct], a member of the latest cohort of the Uplift Makers Program from the Appalachian Creatives Collective, works on a woven textile at their home in Asheville, N.C. They [NB-the artist prefers they/them pronouns] keep a natural dye garden and forage in the mountains outside to create vibrant, earth-based colors for their yarns.](https://chronicle-uat.chronicle.lower.k2.m1.brightspot.cloud/dims4/default/b522810/2147483647/strip/true/crop/1280x853+0+1/resize/540x360!/format/webp/quality/90/?url=https%3A%2F%2Fchronicle-brightspot.s3.us-east-1.amazonaws.com%2Fe6%2Fcb%2Fa88f695743fcad46ec2a6ab93d42%2Fnews-lilly-beasleynest-0515-01.JPG)
Names familiar and unfamiliar grace Time magazine’s first list of the 100 most influential people in philanthropy. From Silicon Valley’s Dustin Moskovitz, to Nigerian industrial magnate Aliko Dangote, to Indian tech billionaire and education philanthropist Azim Premji, the inaugural cohort come from around the world and take different approaches to giving. They are honored for the huge sums they have donated but also for innovations such as GivingTuesday and giving circles, and for bringing new people into philanthropy. (Time)
Large foundations are considering ways to minimize the tax hit they would take under a Republican proposal to hike tax rates on their investment income. Possibilities include giving via limited-liability companies or donor-advised funds, or handing stock over to recipient charities to sell instead of paying taxes on gains from any sales themselves. An expert on foundation investing said if the proposal passes, then “it makes no sense” to eschew tax-free options, but that would come at a societal cost. “You’re taking money that’s very transparent and sort of forcing it into these darker pools, where you don’t have the 5 percent distribution requirement” for foundations’ annual giving, said John Seitz, FoundationMark’s founder and CEO. (Bloomberg)
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