The CDFI Fund has identified over 41,000 population census tracts that are eligible for designation as a QOZ, including (1) 31,680 population census tracts that are Low-Income Communities (LICs) eligible for designation as QOZs; and (2) 9,453 non-LIC population census tracts that are eligible for designation if a particular LIC contiguous to the non-LIC tract is designated as a QOZ. Contiguous Tracts must be at or below 125% of the area median income.
Private foundations make grants based on charitable endowments. The endowment funds come from one or a small handful of sources -- an individual, a family or a corporation. Because of their endowments, they are focused primarily on grantmaking and generally do not raise funds or seek public financial support the way public charities (like community foundations) must.
Private independent foundations are distinct from private family or corporate foundations in that an independent foundation is not governed by the benefactor, the benefactor’s family or a corporation. Of the largest private foundations in the United States, most are independent foundations, although they may have begun as family foundations or were converted from corporate foundations. There is no official IRS or legal definition of independent foundations, so it is difficult to arrive at statistics that are fully representative of the field.
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Now that Opportunity Zones have been designated, individual and corporate investors are then given the opportunity to defer capital gains taxes when they reinvest the earnings in these communities. Additional incentives accrue over five, seven and ten years if the investment is maintained – thereby promoting the kind of patient capital that distressed communities so often lack. Get more of the resources you need to learn about Opportunity Zones from the US Impact Investing Alliance.
The OZ program is intended to spur long-term investments in low-income census tracts in the U.S. The new law allows investors to place unrealized capital gains (a profit from an investment that hasn’t yet been sold) into authorized O Funds that invest capital into OZs. The greatest benefits would go to investors who invest for 10 or more years. Learn more from the Mission Investors Exchange about the benefits, risks, and potential of opportunity zones.
With the creation of the federal Opportunity Zones incentive program, trillions of dollars in new private investment will flow into pre-designated low-income communities around the country. But will this investment benefit the people living in these communities now, or will they be displaced as new interest and development brings increased property values and rents? And what kind of development will result —unsustainable, car-dependent sprawl (the dominant growth paradigm in the United States today) or walkable, mixed-use communities with a variety of housing options for everyone?
Treasury and IRS have issued an initial set of proposed regulations and guidance on how the Qualified Opportunity Zone tax benefits under IRC 1400Z-2 (including the certification of Qualified Opportunity Funds and eligible investments in Qualified Opportunity Zones) will be administered.
Led by Bryan Del Rosario, Staff Counsel for the Council on Foundations, and Lindsay Mason, Director of Corporate Philanthropy, this workshop is organized to ensure common legal questions for administering grants, board governance and charitable giving activities are addressed. Bryan will provide technical and practical understanding of complex rules and regulations impacting private and corporate foundations/giving programs.
In April 2017, the Veterans Philanthropy Exchange, a veterans funders’ network hosted by the Council on Foundations, devoted a portion of its fifth annual convening to discuss what interests, challenges, and needs might drive a future agenda in veterans’ philanthropy. While the deliberation process continues around the idea of a national agenda for the sector, this document summarizes insights and ideas from that recent discussion, and is intended to contribute philanthropic thought for the George W. Bush Institute’s Stand-To/National Veterans Convening on June 22-23, 2017.
“White Oak” is the informal name used to denote a series of conferences originally titled “America Joins Forces for Military Families” and initially held at the White Oak plantation in Jacksonville, FL in 2010 and 2012. White Oak retreats encourage creative thinking, collaboration and relationship-building across sectors in support of military members, veterans, their families, caregivers and survivors among the major non-profit military service organizations, related government offices, and other key philanthropic partners and contributors to this cause.