Help Outside In Advocate for
Emergency Charitable Stimulus
Right now, there is an estimated $1.2 trillion in wealth warehoused in private foundations and donor-advised funds (DAFs). While donors to these funds have already received substantial tax deductions for their contributions, there are few incentives to deploy these funds and support the critical work of nonprofit organizations, which is what they were designed to do. Current IRS law only requires foundations to distribute 5% of their assets per year while DAFs are not required to spend a dime.
We are living through a time of unprecedented challenges: a major public health crisis, a deepening recession, and a social justice movement to combat racism and its destructive impacts. To get through it, and to recover, our nonprofit community will need unprecedented resources. Congress has already authorized trillions in bailouts and stimulus funds. But as the growing demand for basic services illustrates, millions of Americans are still relying on the support of hardworking local nonprofits just to survive. These nonprofits are going to need major infusions of capital from charitable donations and foundations.
Fortunately, Congress can help nonprofits access $200 billion over the next three years—without costing taxpayers another dime by passing Emergency Charitable Stimulus (ECS) legislation in the next COVID-19 relief package. You can read the full briefing about this proposed legislation here.
We are asking all our community partners and donors to join us in urging Congress to pass Emergency Charitable Stimulus legislation NOW.
Use our Advocacy Toolkit for resources like:
- Online petitions
- Contact information for elected officials
- Email and phone call templates
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