Foundations propose legislative agenda

The association representing more than 2,000 of the nation’s grantmaking foundations has put forth a five-point legislative agenda designed to define and grow philanthropy in the U.S.

The Council on Foundations, a membership organization based in Washington, D.C., says it will partner with Congress to pass its 2007 Agenda for Philanthropic Partnership.

“Rather than react to proposed legislation, we intend to lead the way; defining what philanthropy is, what it can do for society, and ensuring public policy supports our goals,” Steve Gunderson, the Council’s president and CEO, said in a statement.

The agenda calls for improving the 2006 reforms to donor-advised funds and supporting organizations; expanding and making permanent provisions the IRA charitable rollover incentive; simplifying the private foundation excise tax on net investment income; creating a low-profit limited liability company classification; and extending deductions for certain contributions of property for conservation.

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