Philanthropy News

Tuesday, November 27, 2018
The Problem With Charitable Giving

NEW YORK, NY -- Starting this fall, and well into the future, medical students at New York University will get free tuition. In a few years, shiny new facilities will welcome cancer patients in Atlanta and brain researchers at Stanford. The announcements about these developments credit generous philanthropists, but fail to mention who else is footing much of the bill: American taxpayers. Like most charitable giving, health care philanthropy is tax-deductible. When wealthy people give away millions of dollars, their tax bills go down. But that leaves the rest of us either to pick up the slack or go without the investments that our government could have made with those funds.

Monday, November 19, 2018
Nonprofits Are at Risk as the Wealthy Gain More Philanthropic Clout, Report Argues

WASHINGTON, DC -- The accelerating concentration of philanthropic power in the hands of the affluent puts nonprofits at risk and can be checked only by significant tax-law changes, argues the latest in a series of reports and critiques focused on big philanthropy. Nearly a third of itemized charitable contributions in 2015 came from households earning more than $1 million annually — up from just 12 percent in 1995, according to the new report. At the same time, the share of giving by average Americans has been declining for most of the 21st century, sapping the strength of national nonprofits that rely on small donations and don’t attract support from the affluent.