This is so appropriate on Giving Tuesday. I first learned of this, while I worked for a family foundation, from seeing how local philanthropists used a donor-advised fund to support the issues they care about.
This is so appropriate on Giving Tuesday. I first learned of this, while I worked for a family foundation, from seeing how local philanthropists used a donor-advised fund to support the issues they care about.
A private school that charges $50,000 a year in tuition and is mostly available to wealthy people is a charity in this system. A church in a neighborhood with million-dollar homes that has primarily wealthy parishioners is a charity. They are giving to themselves and shortchanging the public.
The tax code does not distinguish whether someone gets a tax deduction by the zip code of the charity. Giving to ALL churches, mosques, synagogues, and temples gets the same treatment.
And because a religious organization is located in a particular zip code doesn't say anything about the work it is doing and who is benefitting.
Why single out giving money away to support hospitals, schools, and other charities as a "bad" deduction? Would you prefer that donors not make gifts and that charitable organizations founder?
I would prefer that our government support hospitals, schools, and our needs as an Americans. If Greece can do single-payer, why can't the US? The underlying problem may be capitalism.
This is so appropriate on Giving Tuesday. I first learned of this, while I worked for a family foundation, from seeing how local philanthropists used a donor-advised fund to support the issues they care about.
What is wrong with local philanthropists supporting issues they care about, whether via the mechanism of a family foundation or individual giving?
The only correction in the system that is needed is the percentage of foundation assets which should be distributed annually.
A private school that charges $50,000 a year in tuition and is mostly available to wealthy people is a charity in this system. A church in a neighborhood with million-dollar homes that has primarily wealthy parishioners is a charity. They are giving to themselves and shortchanging the public.
The tax code does not distinguish whether someone gets a tax deduction by the zip code of the charity. Giving to ALL churches, mosques, synagogues, and temples gets the same treatment.
And because a religious organization is located in a particular zip code doesn't say anything about the work it is doing and who is benefitting.
A religious organization already gets enough breaks by being exempt from paying taxes, especially those who are pushing a political agenda.
Charitable giving is a tax write-off which is only available to some.
All tax deductions are only available to some.
Why single out giving money away to support hospitals, schools, and other charities as a "bad" deduction? Would you prefer that donors not make gifts and that charitable organizations founder?
I would prefer that our government support hospitals, schools, and our needs as an Americans. If Greece can do single-payer, why can't the US? The underlying problem may be capitalism.