The Philanthropy Roundtable has been following new initiatives to regulate the philanthropic sector, including a recently released set of proposals led by billionaire John Arnold and professor Ray Madoff. In the Chronicle of Philanthropy article “Powerhouse Coalition of Wealthy Donors and Big Foundations Urges Congress to Spur More Giving,” the Roundtable’s Sandra Swirski is quoted giving a warning that the new legislation could have a negative impact.
“Among the flaws in the proposal, Swirski said, is the provision aimed at curtailing transfers from foundations to donor-advised funds,” the article reads. “Such transfers can be an efficient way for grant makers to collaborate, she said. They also can be helpful when foundations support causes that are controversial by protecting their employees who could be targets of harassment or violence, Swirski added.”
Click here for the Roundtable’s full statement on the new proposals.