Reforming the Charitable Deduction Report

November 3, 2019

The Joint Economic Committee of the United State Congress has released a new report; Reforming the Charitable Deduction. This is an important bipartisan report on charitable giving that includes analysis on trends in U.S. charitable giving, an insightful overview of the charitable deduction and most importantly possible reforms to make the charitable deduction more equitable to all taxpayers. 

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Get up to date with the latest information on legislative activity in this final session of the year. Perry Wasserman takes us behind the headlines to learn what legislation impacting the charitable sector may be voted on by year's end. Special guest Emil Kallina joins the call to discuss the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) introduced in the House and the Retirement Enhancement Securities Act (RESA) introduced in the Senate. Each of these bills has important changes that every frontline fundraiser needs to be aware of for their organization and donors.  

Presenters:
Perry Wasserman, Managing Director
501c Strategies
Washington, DC 

Emil Kallina, Managing Member
Kallina & Associates, LLC
Towson, MD

 

Featured Keynote Speakers

Alex Banayan - “When you change what people believe is possible, you change what becomes possible.” That’s the lesson Alex Banayan learned as he interviewed the world's most successful people over  the course of seven years for his bestselling book, The Third Door. He found that all of these leaders, from Bill Gates to Maya Angelou to Warren Buffett to Lady Gaga, found a Third Door to get in to the arena where they eventually excelled. It was almost always an entry they created themselves, that didn’t exist for anyone else. At the conference, Alex will share fascinating Third Door tales. But it’s his own creativity, his focus on origin stories and his insight into the self-made mindset that offer real inspiration for gift planners, who help successful people believe that they can change the world. Banayan has presented the Third Door framework to business conferences and corporate leadership teams around the world, including Apple, Google, Nike, IBM, Salesforce, Disney, and Harvard.

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Elizabeth J. Dale -  Elizabeth J. Dale is an assistant professor in the Master of Nonprofit Leadership Program at Seattle University. Her research focuses on the philanthropic practices of LGBT individuals and couples, women’s giving and funding for women’s and girls' causes, and the intersection of gender and philanthropy. Elizabeth received her Ph.D. in Philanthropic Studies in 2016 from the Indiana University Lilly Family School of Philanthropy. CGP attendees will get an early look at important new research from the Giving USA Foundation's new survey of planned gift donors in New Orleans. During the closing plenary, survey director Elizabeth Dale will preview key findings from the study, which will be published in November.

Charitable Beneficiary IRA Distribution Resource Center

In a recent CGP survey 43% of organizations stated they experienced difficulty in collecting beneficiary proceeds from one or more IRA administrators. This is a matter of great concern to nonprofit organizations across the country. Many individuals and organizations are working to improve the timely distribution of beneficiary proceeds from financial institutions. Through awareness, advocacy and the collection of valuable information to assist organizations, they have created a number of resources to expedite distributions and promote change in institutional policy. The goal of the center is to organize the results of their efforts in one location to benefit the entire nonprofit sector.

View Resource Center

Charity IRA Beneficiaries Navigate Stormy Seas to Safe Harbors, Parts 1&2

By Jeff Comfort

Used by Permission of Planned Giving Today

Part 1 Part 2

How Charities May Collect IRA Beneficiary Designations

By Charles Schultz

Used by Permission of Crescendo Interactive, Inc

Read Now

Collecting IRA Beneficiary Gifts - A Death-Defying Experience

By Jeff Lydenberg

Used by Permission of PG Calc

Read Now

 

RIFT Project Update: How to Eliminate Delays When Requesting IRA Death Proceeds 

By Johni Hays
 

Read Now

Comments

This center is meant to be dynamic with new resources and information added as they become available. If you have information to share or know of a resource that should be added, please let us know by adding your comments in the box below.

In a recent CGP survey 43% of organizations stated they experienced difficulty in collecting beneficiary proceeds from one or more IRA administrators. This is a matter of great concern to nonprofit organizations across the country. Many individuals and organizations are working to improve the timely distribution of beneficiary proceeds from financial institutions. Through awareness, advocacy and the collection of valuable information to assist organizations, they have created a number of resources to expedite distributions and promote change in institutional policy. The goal of the center is to organize the results of their efforts in one location to benefit the entire nonprofit sector.

This center is meant to be dynamic with new resources and information added as they become available. If you have information to share or know of a resource that should be added, please let us know by adding your comments in the box at the bottom of the page.

RIFT (Release IRA Funds Timely) Project

Collated by Johni Hays, JD

The RIFT project is a database of collected materials to assist charitable organizations to effectively file and timely receive IRA beneficiary distributions. Click on the institution you are looking for to access filing information, forms and key contacts.

Disclaimer: Neither the National Association of Charitable Gift Planners or the RIFT Project is responsible for errors in this information. The information is gathered from multiple sources and may change without notification. Should you see data that is incorrect or have knowledge of changes to the information posted, please share that information in the comment section.

Celebrating the 50th Anniversary of the Tax Reform Act of 1969

The Tax Reform Act of 1969 provided the legal framework for much of what gift planners do today. To reform abuses of loosely regulated charitable trusts and private foundations, the Act mandated many changes affecting the practice of charitable gift planning.

While familiar tools such as charitable remainder trusts and lead trusts, pooled income funds, and gift annuities were in use long before 1969, this legislation spelled out very specific and wide-ranging new rules for their operation.

As a result of the Tax Reform Act, many people became attracted to the field of charitable gift planning. Gift planning councils sprang up across the country. Another major tax reform in 1986 closed many popular loopholes, making charitable remainder trusts even more attractive, and intensifying the need for a national professional association. The National Committee on Planned Giving (now NACGP) was founded as a federation of gift planning councils in 1988. Gift planners continue to find creative gift arrangements within the legal framework set out in 1969.

This is an anniversary worth celebrating!

Why was the Act needed?  What did it contain?  What was its impact on charitable gift planning? Read Ronald Brown’s article about the Tax Reform Act of 1969 here.

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Visit Ronald Brown's webiste www.giftplanninghistory.org.

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