Taking Ohio philanthropy to Capitol Hill
Last week, Philanthropy Ohio President Suzanne T. Allen and I walked miles in our nation’s capital to lobby on behalf of our members’ interests, primarily asking representatives and senators to reinstate the IRA Charitable Rollover that expired at the end of last year. The provision has been in effect since 2006, allowing persons aged 70 ½ and older to give IRA assets to charities without tax consequences. It has been very effective in raising money for all kinds of nonprofits, including community foundations. While we were glad that we didn’t hear any opposition to extending it, we were not glad to hear that there probably won’t be movement on that any time soon. If you care about the IRA Charitable Rollover, call your representative today and urge him/her to support its reinstatement – sooner rather than later!
A great group of nine foundation leaders accompanied us on our annual Foundations on the Hill fly-in day, a national day sponsored by the Forum of Regional Associations and Council on Foundations. We are grateful that Keith Burwell, Barry Doggett, David Enzerra, Leah Gary, Joe Ignat, Heidi Jark, John Mullaney, Barbra Stonerock and Frank Whitfield flew to D.C. to be part of the 14 appointments with the Ohio delegation.
Our visits were especially timely this year, as the president had just released his budget (it included yet again a proposed cap on charitable gifts) and as Rep. Camp (chair of the powerful House Ways and Means Committee) had issued his tax reform “discussion paper” filled with numerous proposed tax changes that would impact philanthropy. Although both items were declared DOA by members of both political parties, the Camp Tax Reform Paper is widely recognized as a starting point for post-election work that would likely extend into the next session of Congress. I’ll have more to say on that after I’ve spent more time perusing the summary, so stay tuned.
Claudia Y.W. Herrold