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‘DIVERSITY’ REGULATION THREATENS TO POLITICIZE PHILANTHROPY

Submitted by giarts-ts-admin on February 23, 2009

According to a study by The Chronicle of Philanthropy, charitable foundations’ assets declined an average of 28% in 2008. The nonprofit organizations they fund are struggling to survive.

Given these dire circumstances, one would think we would be empowering citizens to create new charities and helping philanthropists give more. Instead, some ideologues think now is the ideal time to impose additional government regulations, and even quotas, on the philanthropic community.

Ideas to siphon off foundations’ revenues through higher excise taxes or by reducing their tax deduction have been circulating for some time, as has the notion that government should compel foundations to donate a greater percentage of their assets. A newer, and far more radical, proposal surfaced last year, not surprisingly, in California. Read more.