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Camp Proposal and Charitable Giving

By Robert Sharpe

In late February 2014, Representative Dave Camp (R-MI) put forth what’s been described as the most serious tax reform proposal (the Camp proposal) since the historic Tax Reform Act of 1986 (the 1986 Act). The Camp proposal represents the result of many months of study and hearings with representatives of many of the United States’ economic sectors and includes provisions drawn from both Democratic and Republican suggestions for tax reform and simplification.

While few observers believe that this proposal will become law in its current form, many think that it may, in fact, serve as a blueprint for future tax reform discussions.

Let’s explore ways in which this proposed legislation would impact charitable tax incentives, as we begin to contemplate its impact on income and estate tax planning.

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Jon M. Huntsman Sr. Named Recipient of William E. Simon Prize

Will be Honored at 2014 Annual Meeting of The Philanthropy Roundtable in Salt Lake City

WASHINGTON, D.C.— Jon M. Huntsman Sr. has been named the 2014 recipient of the William E. Simon Prize for Philanthropic Leadership, an annual award administered by The Philanthropy Roundtable that highlights the power of philanthropy to promote positive change and to inspire others to support charities that achieve genuine results. The prize is intended to honor living philanthropists who have shown exemplary leadership through their own charitable giving, either directly or through foundations they have created.

Huntsman—a four-time cancer survivor—notably founded the Huntsman Cancer Institute (HCI), which combines research with out-patient and in-patient care, much of it informed by his own experience with cancer treatment. Huntsman built the state-of-the-art facility at the University of Utah despite being offered a one-to-one matching grant by the University of Southern California and two-to-one matching grants from both Duke and the University of Pennsylvania. Huntsman was undeterred in his decision to build HCI in Salt Lake City and even donated $10 million to seed the project.

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ACR News 04.17.14—Tax Extenders, Budget, ACR Webinar

>> Federal: Tax Extenders Take Center Stage
>> Federal: House Budget Vote
>> Federal: ACR Webinar
>> Top Reads: Charities Critical of New Federal Giving Rules

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Lesson For April 15: Why Government Can’t Replace Charity

By Howard Husock

Maybe it’s because of the impending tax filing deadline, but we are seeing a sudden spate of muscular defenses of a government safety net against the alleged conservative view that private charity could assist those in need—and replace government.Both Mike Konczal, writing in Journal Democracy and reprinted in The Atlantic, and Michael Hitzik, in the Los Angeles Times, assert that a new wave of conservatism—led by Paul Ryan and Mike Lee, and following in the footsteps of Ronald Reagan—would gut the current federal social insurance system based on a flawed view of history; a view, as Konczal puts it, that “before government took on the role of providing social insurance, individuals and private charity did everything needed to insure people against the hardships of life;  given the chance they could do it again.” Hitkik’s title gets to the same point:  “Private charity can’t replace government social programs.”

There are two considerable problems with their arguments.

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IRS to Re-Propose Rule Defining Political Activity for Nonprofits

Internal Revenue Service Commissioner John Koskinen said in an interview this week with USA Today’s Susan Page that the IRS will likely rewrite the rule it proposed defining political activity of nonprofit organizations.

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The Boston Marathon: A History of Charitable Giving

Today marks the one year anniversary of the bombing at the Boston Marathon. Our hearts and prayers go out to all those affected by this tragedy and we celebrate the triumph of those who have overcome catastrophe. Amid the horror, the American spirit of giving was on full display as complete strangers offered up their homes, their blood, their money, and other resources to help those in need. This spirit of giving is befitting of an event whose early history is centered on an act of generosity. The following excerpt from Philanthropy magazine’s Roadtrip Across Philanthropic America offers an insight into that history:

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Good Giving

ACR Blog: Diversity of Thought: Jefferson’s Influence on Philanthropy

“I deem it the duty of every man to devote a certain portion of his income for charitable purposes; and that it is his further duty to see it so applied and to do the most good for which it is capable.” -Thomas Jefferson

April 13 marks the 271st birthday of one of our nation’s most prominent founding fathers: Thomas Jefferson. While Jefferson clearly advocated for charity during his life, perhaps his most well-known philanthropic-related effort came when he offered his vast personal collection of books to reestablish the Library of Congress.

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ACR Blog: Wyden Reaffirms Support for Charitable Deduction, Troubled by Floor Proposal

Wyden_photoLast week, Senate Finance Committee Chairman Ron Wyden (D-OR) publicly voiced concern over a proposal of a “giving floor” on the charitable deduction at the annual meeting of the National Council of Nonprofits. He also reiterated his stance that the charitable deduction is a “lifeline, not a loophole.” From the National Council of Nonprofits:

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ACR News 04.04.14

Camp to Retire, Tax Extenders Advance, Some High Praise Offered

>> Federal: Camp Announces Retirement
>> Federal: Tax Extenders Move Forward
>> Federal: Ryan Releases Budget Blueprint
>> Consider This: Some High Praise
>> Top Reads: GOP Tax Reform’s Effect on Charitable Giving

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The Charter School Performance Breakout

By Karl Zinsmeister

Chartering represents one of the great self-organizing movements of our age. It rose up in the face of strong resistance from the educational establishment. It has been powered by independent social entrepreneurs and local philanthropists. It is a response by men and women who refused to accept heartbreaking educational failures that the responsible government institutions showed no capacity to solve on their own.

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