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How Public Is Private Philanthropy, 2nd Edition
Debunking the public money myth
The Philanthropy Roundtabe has released a second edition of its 2009 legal analysis that examined the claim that charitable funds are “public money” because they are exempt from federal taxes, receive state charters, and are subject to oversight by state attorneys general. Increased calls for classifying private philanthropy as public money and important court cases, including a Supreme Court case, have since bolstered the authors’ original conclusions, necessitating a 2nd edition.