Take Action Now: Support Charitable Givingon August 27th, 2014 at 11:49 am
Nonprofits throughout the country are struggling to keep up with the growing demand in services. For over a decade, the philanthropic community has been working to identify a solution to address this problem—with the goal of creating stronger and healthier communities.
The result of these efforts is the America Gives More Act (H.R. 4719), a bill that would promote and support charitable giving to nonprofit organizations. As outlined by Philanthropy Northwest, the America Gives More Act does five important things to encourage giving by foundations and individuals:
- Permanently reinstate the IRA charitable rollover.
- Simplify the excise tax to 1% for private foundations’ investment income, (thereby reducing the administrative work and enabling more giving to immediate community need).
- Permanently reinstate the enhanced deduction for donating land conservation easements.
- Permanently reinstate the enhanced deduction for donating food inventory.
- Extend the deadline for claiming charitable donations on the previous year’s tax filing through April 15.
As we head into the fall season, we have a small window of opportunity to advance this legislation. The U.S. House of Representatives passed the America Gives More Act in July, but it needs to pass the Senate in order to become law.
In the coming months, legislators need to hear loud and clear that this bill is a priority for their constituents across our region and throughout the country.
Here’s how you can help:
- Attend an upcoming town hall to show your support for this issue
- Contact your Senator’s office by email, phone (202-224-3121), or social media, and tell them that you support the America Gives More Act
At Pride Foundation, we have seen first-hand how giving can change our community for the better. From marriage equality, to legal protections, to transgender healthcare access—we know that increasing resources to the communities that need them most is critical to advancing equality.
The America Gives More Act would provide much-needed incentives for charitable giving, fueling investments in our future.
Please take action today and join us in highlighting the importance of this legislation to our state, region, and community.