Council on Foundations Statement on Tax Reform Framework
Today, the Council on Foundations released the following statement from President and CEO Vikki Spruill:
"The Council on Foundations looks forward to seeing more details on the tax framework unveiled today by President Trump and congressional leaders. The Council remains committed to securing legislation that preserves the full scope and value of the charitable deduction. Without including provisions such as the universal deduction to incentivize giving, some of the proposed changes in this framework would create negative effects on charitable giving. We will continue to advocate for the millions of generous Americans who donate to everything from their local community foundation to their church collection plates to their favorite nonprofit, all with one goal: to improve and strengthen their communities. A tax code that supports this vital American tradition of giving is critical."
About the Council on Foundations
An active philanthropic network, the Council on Foundations (www.cof.org), founded in 1949, is a nonprofit leadership association of grantmaking foundations and corporations. It provides the opportunity, leadership, and tools needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good. With members from all foundation types and sizes, the Council empowers professionals in philanthropy to meet today’s toughest challenges and advances a culture of charitable giving in the U.S. and globally.