What We’re Reading Elsewhere
Here are some of the articles that attracted our attention in the past week. We provide these summaries every day in our free Philanthropy Today newsletter. (Sign up now.)
The Biden administration’s proposed tax hikes would give the wealthy more incentive to make charitable donations, a Biden aide told nonprofit leaders last week. Biden’s plan would nearly double the capital-gains tax rate for those who earn more than $1 million annually and would likely send those taxpayers looking for more deductions. The aide’s admission was implicit acknowledgment that the wealthy will look for ways around the tax hike. Some organizations are already pointing out to potential donors the increased value of gifts under the proposal, and one scholar said the enhanced tax break could give wealthy donors an excuse to give more to charities and leave less for their heirs. (New York Times)
Historically black colleges are smashing fundraising records. North Carolina A&T State University has raised $88 million since the fiscal year began, six times its typical annual haul. More than half of that sum, $45 million, came from MacKenzie Scott, but alumni and corporate donations were up as well. Said Harry Williams, president of the Thurgood Marshall College Fund: “We have never, ever seen anything like this for HBCU.” (WUNC)
Muslim giving in the United States has shifted focus in the decades since the 9/11 attacks from international relief to civil rights and social…
