March 29, 2009
Florida Philanthropic Network led a team of Florida grantmakers to Washington, D.C., on March 25, 2009, for visits with a record-high 23 members of the state's congressional delegation and their staffs, as part of the annual Foundations on the Hill event, which was co-sponsored by the Council on Foundations and the Forum of Regional Associations of Grantmakers. FPN coordinated and led the Florida delegation for the event, in partnership with the Southeastern Council of Foundations.
The Florida grantmakers discussed several key federal issues of interest to foundations today, including maintaining the current tax rate for itemized charitable deductions, expanding and extending the IRA charitable rollover provision, simplifying the private foundation excise tax, and allowing foundations to make program-related investments to low-profit limited liability companies (L3Cs).
As a result of FPN's meeting in Washington with Congresswoman Suzanne Kosmas (D-24), Rep. Kosmas introduced the IRA Charitable Giving Act on May 14, 2009, to extend the tax-free treatment of distributions from individual retirement plans for charitable purposes.