The philanthropic sector currently faces a difficult challenge: Recent changes to the tax law leave only about 10 percent of households, mainly with higher incomes, with incentive to donate to charity. This increasingly dominant influence of wealthy donors has drawn criticism, and leaders of the philanthropic sector have expressed concern about diminishing public trust in the sector’s efforts. In addition, a lack of resources limits regulators’ abilities to police this influence, thus bad actors threaten the sector’s reputation.
All this occurs against a backdrop of vexing societal challenges—climate change, rising inequality, loss of faith in government—that call for the philanthropic sector’s involvement. To address these issues, the sector is creating new philanthropic vehicles and approaches and considering legal and structural changes.
On Tuesday, February 18, a conference jointly organized by the Urban-Brookings Tax Policy Center and the American Tax Policy Institute, featuring panels of experts and a keynote address by Chronicle of Philanthropy editor Stacy Palmer, will deepen the discussion by addressing the following:
Has charitable giving become the province of the rich, and, if so, what are the consequences?
What policies would more efficiently and fairly encourage charitable giving?
Can the Internal Revenue Service regulate the philanthropic sector, and should reform account for the Internal Revenue Service’s capacity?
How has the passage of the Tax Cuts and Jobs Act of 2017 affected charities?
How will generational change affect philanthropy?
9:30 a.m. Welcome and Introduction
Ellen P. Aprill, Professor of Law and John E. Anderson Chair in Tax Law, Loyola Law School, Loyola Marymount Universityl; Vice President, American Tax Policy Institute @EllenAprill
Mark J. Mazur, Robert C. Pozen Director, Urban-Brookings Tax Policy Center @TaxPolicyCenter
9:35 a.m. Oversight of Nonprofits
Karin Kunstler Goldman, Deputy Bureau Chief, Charities Bureau, Office of the New York Attorney General
Nina Olson, Executive Director, Center for Taxpayer Rights
Marcus S. Owens, Partner, Loeb & Loeb LLP
H. Art Taylor, President and CEO, BBB Wise Giving Alliance @H_Art_Taylor
Elizabeth Young, Senior Manager, American Institute of Certified Public Accountants (moderator)
11:00 a.m. Impact of the TCJA on Nonprofits
Joseph J. Cordes, Professor of Economics, Public Policy and Public Administration, and International Affairs, and Codirector, Regulatory Studies Center, George Washington University
Catherine E. Livingston, Partner, Jones Day
Ruth M. Madrigal, Principal, KPMG
Alexander L. Reid, Partner, Morgan Lewis @alex_reid
Ellen P. Aprill, Professor of Law and John E. Anderson Chair in Tax Law, Loyola Law School, Loyola Marymount University; Vice President, American Tax Policy Institute @EllenAprill (moderator)
12:15 p.m. Lunch
12:30 p.m. “Trust in Nonprofits and Philanthropy: Why It’s Eroding and What’s Next”
Support for this event is provided by the American Tax Policy Institute.
Support for this event is provided by the American Tax Policy Institute. For more information on the Urban Institute’s funding principles, go to www.urban.org/fundingprinciples.
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