Community Foundations Update - November 2016
Council Submits Letter to Treasury on Forthcoming DAF Regulations
As part of our ongoing dialogue with the Department of the Treasury, the Council met with senior officials to deliver a letter outlining the potential negative implications that forthcoming regulations on DAFs could have on our sector's ability to strengthen communities through philanthropy. If you have any questions or would like to discuss this further, please do not hesitate to contact our team at govt@cof.org.
What Happens Now?
Election Day is finally here. After you cast your vote today, register for our free post-election analysis webinar on November 15 at 4:00 p.m. EST. Council President and CEO Vikki Spruill, along with special guests columnist Connie Schultz and Federal Policy Group Managing Director Ken Kies, will share their insights on what the results mean for philanthropy.
Policy in the Air
With a presidential transition coming up, we are preparing for shifts in government. We know that tax reform is on the agenda and anticipate that will keep us busy in 2017! We’ve been getting signals that we may get new clarity on donor advised funds from regulators. As a reminder, since 2006, the Council has echoed your requests for clarification on the following information not addressed in the regulations, including
- Clarification of Section 4966(d)(2)(A) Definition of “Donor Advised Fund”
- Clarification of Section 4966(d)(2)(B) Exemptions for single organization, government entity, and scholarships
- Additional Exemptions under Section 4966(d)(2)(C) for emergency hardship
- Section 4966 Definition of “Distribution” — qualified distributions
- Application of Section 4967 Penalties — pledges, bifurcation
Click here for more information on the Council’s work with regulators.
November Is a Month to Celebrate!
- Nov 12-18: Community Foundation Week. Tout the good you are doing in advancement of your mission during #CFWeek. Download our toolkit for helpful templates and ideas.
- Nov 29: #GivingTuesday is a great opportunity to connect with existing and new donors during the holiday season. Learn how to join the movement.
Recent Council Blogs and Helpful Insights and Tips:
- Learning and Leading Together — Report from the Strengthening Community Learning Forum
- Year-end giving and grants: It’s The Most Wonderful Time Of The Fundraising Year
- Council submits a letter to Treasury regarding private foundations and how they may use DAFs to further their grantmaking activity
Plan Ahead — 2017 Activities to Consider:
- Jan 25: Giving Days — Ramp up or wind down? Webinar — details forthcoming.
- Jan 26-27: Center for Community Foundation Excellence Fundamentals — Miami. Registration opening soon.
- Mar 6-7: Center for Community Foundation Excellence Fundamentals — Sacramento. Registration opening soon.
- Mar 20-22: Foundations on the Hill — Washington, D.C.
- Apr 22-23: Center for Community Foundation Excellence Fundamentals — Dallas
- Apr 23-26: 2017 Annual Conference — Leading Together
- Fall 2017: Strengthening Community: Leadership, Impact, Engagement Learning Forum
- Fall 2017 Endowments and Finance Summit and HR Summit
Many other happenings can be found at events around the field.
Articles to Re-Post, Read, Send to a Friend
(good for social media, staff, board members, donors, or professional advisors):
- Top 5 Considerations for Choosing a Donor Advised Fund vs. Private Foundation
- When a Foundation Board Gets in the Way of Community Impact
- The Value of Foundations that Operate Forever
- Opening the Door: A Funder Steps Outside Its Programs Areas
Happy November!
