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Interesting trends usually come from external forces, so here’s three that we’re watching.
1. The aging of America and a surge in planned giving. More than 10,000 people turn 73 every day in the US, and it’s quite possible that gifts in wills and trusts (commonly called “bequests” and “planned giving”) will fuel many charities for the next few decades. There’s more than $30 trillion that will be passed on by aging baby boomers in the next 20 years. This may be the biggest opportunity for philanthropy in the history of the world. Already, more than $400 million has been committed through FreeWill in 2019.
2. Tax changes are leading to a search for “smart giving.” In 2017, 30% of taxpayers itemized deductions. With the new tax law, that number is estimated to shrink to only 10%. Donors are hunting for smart ways to give.We just published a report on how Qualified Charitable Distributions from IRA accounts have almost doubled in frequency in the last year. Stock gifts, donor advised funds, and other more complex giving is likely to see a sharp uptick as well, and not just from wealthier folks.
3. Innovation from campaigns. Political campaigns, particularly presidential campaigns, represent the bleeding edge of innovation in small-dollar fundraising. Especially right now, as more than 20 candidates vie for the Democratic presidential nomination, we can expect to see an incredible level of creativity, as these campaigns fight to remain relevant and afloat (because they’re spending lots and lots of money on ads, field organizers, rent for campaign offices, and more ads.) In particular, we recommend these campaigns as ones to watch, not necessarily for their policy proposals, but for how they go about raising money from their supporters: Elizabeth Warren, Pete Buttigieg, Cory Booker, and Bernie Sanders.
Read full article from Forbes.
Two mega-philanthropists at opposite ends of the political spectrum — George Soros and Charles Koch — have teamed up to launch a think tank focused on shifting U.S. foreign policy away from "forever war," the Boston Globe reports.
To open this September in Washington, D.C., the Quincy Institute for Responsible Statecraft will be "an action-oriented think tank that [lays] the foundation for a new foreign policy centered on diplomatic engagement and military restraint," the organization's website states. Quoting an 1821 speech by then-Secretary of State John Quincy Adams in which Adams argued that America "goes not abroad in search of monsters to destroy," the think tank will promote ideas that move U.S. foreign policy away from "endless war" in which "[p]olitical leaders have increasingly deployed the military in a costly, counterproductive, and indiscriminate manner."
Soros's Open Society Foundations and the Charles Koch Foundation have each contributed half a million dollars to fund the think tank's launch, while a handful of individual donors have contributed another $800,000, the Globe reports. By next year, the institute hopes to have a $3.5 million budget and a staff of policy experts who will produce material for use by Congress and in public debates; it also plans to issue four reports before the end of 2019 — two offering alternative approaches to the Middle East and East Asia, one on ending endless war, and another on democratizing foreign policy...
Click here to read full article from Philanthropy News Digest.
ROTTERDAM, July 8, 2019 – The Rockefeller Foundation today announced a new Climate and Resilience initiative, which will focus on market-changing opportunities that increase climate and resilience capital flows into solutions and projects that improve the lives of the world’s most vulnerable people. The initiative will be led by Elizabeth Yee, Managing Director, who joins the Rockefeller Foundation from 100 Resilient Cities (100RC) after serving as the organization’s Vice President of Resilience Finance.
The first commitment of this initiative is an initial $8 million to continue supporting the work of Chief Resilience Officers (CROs) and member cities within the 100RC Network. The existing 100RC organization will conclude in July, and this funding will enable a new project to continue supporting the implementation of resilience initiatives incubated through the work of 100RC. At the conclusion of its six years of successful work, 100 Resilient Cities will have launched more than 80 Resilience Strategies, more than 4,000 actions and initiatives, and leveraged $25 billion in external funding to implement those efforts. The Rockefeller Foundation will continue collaborating with this global Network of cities, CROs, and a small group of former 100RC senior staff to plan these efforts, and has committed to a partnership for the next five years.
“The Rockefeller Foundation’s new Climate and Resilience initiative will help strengthen communities around the globe to be more resilient to the urgent crises facing humanity,” said Dr. Rajiv J. Shah, President, The Rockefeller Foundation. “I am thrilled Liz Yee has joined the Foundation to lead this important work, given her deep experience in climate finance, and immeasurable contributions while at 100 Resilient Cities.”
Dr. Shah continued, “Given The Rockefeller Foundation’s longstanding leadership in developing the field of resilience to help cities prepare for and thrive amid physical, social and economic uncertainties, we chose to define a pathway that elevated the work of the network of city practitioners and leaders focused on global urban resilience.
Click here to read full article from the Rockefeller Foundation.
A proposal to continue the development of a digital publishing initiative at Stanford University has been awarded by The Andrew W. Mellon Foundation. Modeling how humanistic and social science research is presented and disseminated online, the Stanford University Press initiative is rethinking scholarly communication for the digital age.
The Stanford University Press program of Interactive Scholarly Works (ISWs) is recognized in the academic publishing world as a frontrunner in digital publishing, setting standards of composition, peer review, production, marketing, archiving, and preservation. Phase 1 of this program, also funded by The Andrew W. Mellon Foundation, published four interactive scholarly works, with this first batch of publications released via supDigital.org. During this initial phase, Stanford University Press considered dozens of submissions, conducted peer review on a carefully selected group, and proceeded to develop and produce these projects to the highest standards.
With Phase 2 funding, Stanford University Press will continue to build its program of ISWs, accelerating its reach and solidifying its brand. These efforts will result in a total of twenty publications released over the next three years, constituting a broad and diverse corpus that provides publishers, authors and institutions with concrete examples of how this new form of scholarly communication can be adopted as part of the academic considerations and evaluations of 21st-century research. The Phase 2 grant also includes a sub-award for a partnership with Rhizome, whose Webrecorder tool is already being implemented by the Press in its archiving efforts. Preservation and persistence continue to be crucial for ensuring ISWs endure within the scholarly record...
Click here to read full article from Stanford University Press.
The final version of a bill requiring the electronic filing of nonprofit tax returns and the release of those forms to the public free of charge in a searchable, machine-readable format.
A provision in H.R. 3151 (the "Taxpayer First Act"), a bipartisan Internal Revenue Service reform measure that was passed by Congress in June, makes e-filing of Forms 990 by exempt organizations mandatory beginning with the 2020 tax year. A delay in implementation may be granted for small organizations, organizations for which the U.S. Department of Treasury determines that the law would cause an undue burden, and organizations filing Form 990-T.
Read the full article here.
The Philadelphia Foundation is trying to spend $1 million and is looking for your help.
The philanthropic organization has created an online voting platform for the public to determine which of 15 pre-selected, nonprofit organizations should be granted a portion of the money.
“Part of the reason we’re doing this is to demystify the work of nonprofits,” said Philadelphia Foundation president and CEO Pedro Ramos. “To make more visible the work that nonprofits are doing all around us and hopefully [we] don’t take for granted, but often do.”
Click here to read full article from WHYY.
United Way of Delaware (UWDE) recently elected eight new members to its board of directors, including Delaware business, academic and cultural leaders and the first representative from Salem County, New Jersey, which is now part of United Way of Delaware’s service area.
The board of directors sets policy and provides oversight and guidance for UWDE, which is one of only two statewide United Ways in the country. The board recently adopted a five-year strategy called Living United 2024, which targets improvements in third-grade reading proficiency, college and career readiness for middle and high school students and financial stability and empowerment for individuals and families.
The following individuals were elected to two-year terms on the UWDE board of directors, effective June 13, 2019:
Click here to read article from Delaware Business Times.
Beebe Medical Foundation presented the Margaret H. Rollins Student Philanthropy Award to nursing student graduate Mallory Drew during the school’s graduation ceremony May 30.
Mallory demonstrated her natural leadership and spirit of volunteerism upon entering the Margaret H. Rollins School of Nursing, said Judy Aliquo, president and CEO of Beebe Medical Foundation.
“The foundation was pleased to honor Mallory, who has been exemplary in her philanthropic activities, supporting both Beebe Healthcare and the community at large,” said Aliquo. “She volunteered at many of the school’s open houses and enthusiastically shared her pride in her school. Her friendly attitude, warm smile and engagement with participants made her a popular and effective tour guide for prospective students and their families.”
In the past year, Drew dedicated more than 40 hours to community service as a volunteer. The requirement for the nursing program is eight hours each semester. Drew was one student the school could always call upon for an extra hand or to represent the School of Nursing at various community events.
Click here to read full article from Beebe Healthcare.
A Letter on Behalf of the Presidents' Council on Impact Investing, a Group of 20 Leading U.S. Foundations with a Shared Commitment to Impact Investing and More Than $80 Billion in Combined Assets.
Across America, from city halls and community meetings to board rooms and chambers of commerce, local leaders are working hard and fast to understand what it means to live in and invest in an Opportunity Zone. This year, governors designated more than 8,700 low-income communities as Opportunity Zones, responding to a provision in the 2017 tax law aimed at incentivizing private investment in small businesses, affordable housing and other drivers of economic opportunity.
Click here to read full article from Cision PR Newswire.
U.S. Department of Transportation Secretary Elaine L. Chao today announced that the Federal Aviation Administration (FAA) will award $495 million in airport infrastructure grants, the first allotment of the total $3.18 billion in Airport Improvement Program (AIP) funding for airports across the United States.
This significant investment in airport improvements will fund construction and rehabilitation projects that will help maintain high levels of safety in U.S. aviation, said U.S. Department of Transportation Secretary Elaine L. Chao.
Grant awards include:
Click here to read full press release from EIN Newsdesk.
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