posted on: Tuesday, July 31, 2007

NCRP submitted comments today to the House Ways and Means Committee on the Pension Protection Act which was signed into law last year. The legislation offered the first real regulation over donor-advised funds and supporting organizations to date.

NCRP acted as one of the leading voices in the philanthropic sector that called for a revamped version of the bill last August. Passed nearly a year ago, we have continued to work with the IRS and the committee in an effort to strengthen the legislation and include several of the provisions that we have submitted in our comments today.

Despite inroads made with the Pension Protection Act, NCRP believes there remain a few areas in need of amendment. More specifically, changes are needed regarding the small section of the bill that deals with tax-exempt organizations.

In the comments we submitted for the record, we advocated for extending the charitable provisions in the bill that are set to expire at the end of this year, including the IRA Rollover program; subjecting donor-advised funds and supporting organizations to excise tax payments; and developing a clear set of guidelines for international charitable organizations.

To read about other changes NCRP recommends to the Pension Protection Act, click here.

NCRP has been joined by other organizations in the non-profit sector by calling for these changes, and through our comments to the House Ways and Means Committee, we hope that change is within reach.