| For Immediate Release 9/25/2007 |
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| FOUNDATIONS DOLLARS NOT ENOUGH TO MEET NEEDS OF DIVERSE COMMUNITIES, SAYS WATCHDOG GROUP | |||
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Washington, D.C. (9/25/07) — Many assume that the main purpose of tax exempt organizations, such as private foundations and public charities, is to help meet the needs of those with the least wealth and opportunity. If you’re one of those people, get ready to be disappointed. Foundation grantmaking for ethnic minorities, impoverished populations and rural areas is either steadily declining or is not growing at the same rate as overall philanthropic giving, said the National Committee for Responsive Philanthropy (NCRP) in its comments to the House Ways and Means Subcommittee on Oversight. The subcommittee invited comments to supplement this afternoon’s hearing on whether the country’s over a million 501(c)(3) organizations, which hold more than $2.5 trillion in combined assets, are serving the needs of diverse communities.“The hearing touches on a long-standing debate on the role of philanthropy in our society, what the tax exempt privilege means and who’s supposed to benefit from the foregone tax dollars,” said Aaron Dorfman, executive director of NCRP. “In a country where there is growing diversity among the population in terms of age, economic class, race or ethnic background, there’s a lot riding on where grantmaking institutions put their dollars.” This afternoon’s hearing comes at a time of ever-widening gap between the wealthy and the poor; when the news is flooded with reports of the social and economic hardships middle- and low-income Americans face every day, such as the disheartening state of the country’s health care, social security and education system; and when federal, state and local governments continue to slash spending on social services. Many nonprofits serving a diverse constituency are dependent on private foundations and other grantmaking institutions to make ends meet. But these nonprofits compete with other tax exempt organizations such as universities, hospitals and art museums that are more popular among wealthy donors. You can view NCRP’s comments at www.ncrp.org. For media interviews, contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it . NCRP is a national watchdog, research and advocacy organization that promotes public accountability and accessibility among foundations, corporate grantmakers, individual donors and workplace giving programs. For more information on NCRP or to join, please visit www.ncrp.org or call (202) 387-9177.
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