One of the favorite places that Chicago philanthropist Julius Rosenwald ever visited with his family was the Deutsches Museum in Munich—which (then as now) was the world’s foremost exhibit of technology and science. The inspired Rosenwald resolved to bring America its first great science museum, replete with a full-size re-created mine, huge machines, and clever interactive exhibits. To bring the project to fruition during the 1920s and ‘30s, he pledged $3 million of his own money (ultimately increased to $5 million).
Eugene Steuerle Discusses a New Study on How Tax Proposals Could Affect Giving
Eugene Steuerle, who serves as the Richard B. Fisher Chair at the Urban Institute, discusses the most recent study from the Urban Institute and Brookings Institution entitled: Description and Analysis of the Camp Tax Reform Plan. Steuerle explains how the tax policy included in the draft affects the charitable sector and offers his thoughts on provisions that would help strengthen it.
The 2014 Rocky Mountain Tax Seminar for Private Foundations is scheduled for September 17, 18, and 19, 2014 in Colorado Springs, Colorado at the Penrose House Conference Center. The seminar is designed to update and inform managers, trustees, and founders of private foundations about the ever-changing tax laws that affect private foundations.
In 1940, an estimated $45 million was spent on biomedical research in the U.S., only $3 million of it from the Federal government. World War II accelerated government health research, but as late at 1947 the entire budget for the National Institutes of Health was still only $8 million. Thus, the major force in funding biomedical research in the U.S., especially on the cutting edge, was private philanthropy. The most active foundation in this area was the John A. Hartford Foundation.
ACR Priorities Among Five Charity-Related Bills Passed by the House of Representatives
WASHINGTON, D.C.— Two legislative priorities of the Alliance for Charitable Reform (ACR) were included in a package of five charity-related bills—HR 4719, the America Gives More Act—passed today by the House of Representatives. The ACR priorities included in the package will streamline the private foundation (PF) excise tax to a flat one percent rate and give people until April 15 to make charitable contributions applicable to the previous year.
In 1876, Edward Pickering, Thayer professor of physics at the Massachusetts Institute of Technology, convened a gathering of 34 men with a shared interest in mountain exploration and the outdoors on MIT’s Boston campus. Some of the attendees wanted to form a “New England Geographical Society,” but rather than create “one more learned society,” the attendees decided to create “a vigorous, full-blooded, ardent club” that would support actual outdoor adventuring by building paths and huts available for general use. By 1906 the Appalachian Mountain Club had more than a thousand members and managed more than 100 miles of trails and many cabins. Its success inspired John Muir and some professors from the University of California at Berkeley and Stanford University to found the Sierra Club in 1892, though that organization soon veered in a different direction as a mass-membership political group, rather than an operating entity.
Conduct Meetings with Tax Writing Committee Members
(From left to right) Jan Preble, John Tyler, Robert Sharpe, Joanne Florino, Rep. Paul Ryan, Gineen Bresso, Adam Meyerson, David Wills, Brent Christopher, Linda Childears, Sandra Swirski, Rhett Butler.
The Alliance for Charitable Reform (ACR) completed a full day of meetings Tuesday, July 8 with members and staff of the House Ways and Means Committee and the Senate Finance Committee. The group of foundation leaders discussed some of the charity-related proposals being considered in tax reform legislation and other issues affecting the nonprofit sector.
Carnegie Hall is an architectural masterpiece from a musical standpoint, its history and magnificent acoustics making it the historic gold standard for American music halls. It is a classic treasure of philanthropy, having been opened for the enjoyment of the American public in 1891, a gift from Andrew Carnegie, who paid the entire bill for its creation, and whose family owned the hall until 1925. Over the decades, the world’s greatest performers delivered thousands of concerts in the facility, and the New York Philharmonic was in residence from 1892 to 1962.