Giving Compass' Take:

· Henry Berman at Exponent Philanthropy reports on some new legislation that will impact the financials of private foundations.

· How will H.R. 1865 impact taxes on private foundations? What other effects will it have? 

· Check out this article to learn about the difference between donor advised funds and private foundations.


As we enter the new year and decade, I want to call your attention to an important piece of legislation passed by Congress and signed into law by the President in the closing days of 2019 that has significant implications for those of us in the world of private foundations.

The “Further Consolidated Appropriations Act, 2020” also known as H.R. 1865 became law on December 20, 2019. Within this act are two important provisions of which you need to be aware:

  • The simplification of the excise tax on net investment income; and
  • The retroactive repeal of the unrelated business income tax on qualified transportation fringe benefits.

Read the full article about private foundations by Henry Berman at Exponent Philanthropy.