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ACR Blog: Private Charitable Giving: A New Italian Tradition

Colosseum

Private charitable giving has played a significant role in the United States in preserving our country’s historical culture and landmarks. For example, David M. Rubenstein is one of many well-known philanthropists who share a passion for preserving American history. According to a recent Washington Post article, Rubenstein, who agreed to cover $7.5 million of the cost of restoration for the Washington Monument after the 2011 earthquake, has also made a donation of $12.35 million to restore Gen. Robert E. Lee’s home at Arlington National Cemetery. 

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Philanthropic Achievement of the Week

1882 Great Libraries From Enoch Pratt—and Others

Library
Enoch Pratt arrived in Baltimore from a Massachusetts farm with nothing but $150 in his pocket, but he was frugal and industrious and eventually thrived in a variety of businesses. In 1882 he offered to give the city of Baltimore a major circulating library for free public use, along with 32,000 books, plus four branch libraries in different quarters of the city, and an endowment of $1,058,333 for upkeep and future expansion. Once built, the Pratt almost immediately became one of the most heavily used libraries in the country, and it thrived over the century and a quarter since. Andrew Carnegie described it in The Gospel of Wealth as the best such institution in the country, and he cited Pratt as his exemplar for his own nationwide library program which he launched the year Pratt’s main library opened. In fact, two decades after the initial opening of the Pratt Library, Carnegie donated a half-million dollars to Baltimore to allow the building of 20 additional branches—part of his wider campaign that paid for the erection of more than 2,500 libraries (see the 1881 Carnegie Library entry in our companion list of major achievements in the arts and culture).

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ACR News 08.08.14—No Recess for the ACR Newsletter

>> Federal: Washington Roundup
>> Federal: Philanthropic Achievement of the Week
>> Federal: ACR Panels at the Annual Meeting
>> Top Reads: Are Americans getting less greedy?


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Philanthropic Achievement of the Week

2005 - Montana Meth Project

Montana Meth Project

Early in the new millenium, Montana was one of the top 10 states in methamphetamine usage. Fully 53 percent of kids in foster care were there because of meth, 50 percent of adults in prison had committed meth-related crimes, and the drug was costing the state tens of millions every year—not to mention human lives

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ACR Blog: Paul Ryan on tax policy and private charitable giving

Joanne Florino, senior vice president for public policy at the Philanthropy Roundtable, asks House Budget Committee Chairman Paul Ryan about private philanthropy during a recent event hosted by the American Enterprise Institute.


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Philanthropic Achievement of the Week

1933- Bringing the Science Museum to America

Chicago Science

One of the favorite places that Chicago philanthropist Julius Rosenwald ever visited with his family was the Deutsches Museum in Munich—which (then as now) was the world’s foremost exhibit of technology and science. The inspired Rosenwald resolved to bring America its first great science museum, replete with a full-size re-created mine, huge machines, and clever interactive exhibits. To bring the project to fruition during the 1920s and ‘30s, he pledged $3 million of his own money (ultimately increased to $5 million).

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Tax Policy and Private Charitable Giving

Eugene Steuerle Discusses a New Study on How Tax Proposals Could Affect Giving

Eugene Steuerle, who serves as the Richard B. Fisher Chair at the Urban Institute, discusses the most recent study from the Urban Institute and Brookings Institution entitled: Description and Analysis of the Camp Tax Reform Plan. Steuerle explains how the tax policy included in the draft affects the charitable sector and offers his thoughts on provisions that would help strengthen it.

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ACR News 07.28.14: House Passes Legislation, Expert Analysis of Camp Draft, Looking Ahead

>> Federal: Washington Roundup
>> Federal: Chairman Ryan Pens Op-Ed
>> Federal: Senate Continues Hearings
>> Federal: Interview with Eugene Steuerle
>> Federal: Outlook Through the End of the Year
>> Consider This: Connecting with Lawmakers in August
>> Top Reads: House strengthens tax breaks for charitable giving


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Events

Event - 2014 Rocky Mountain Tax Seminar

RMTS

The 2014 Rocky Mountain Tax Seminar for Private Foundations is scheduled for September 17, 18, and 19, 2014 in Colorado Springs, Colorado at the Penrose House Conference Center. The seminar is designed to update and inform managers, trustees, and founders of private foundations about the ever-changing tax laws that affect private foundations.

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Philanthropic Achievement of the Week

1954 - Kidney Transplants and Dialysis

Kidney Transplants and Dialysis

In 1940, an estimated $45 million was spent on biomedical research in the U.S., only $3 million of it from the Federal government. World War II accelerated government health research, but as late at 1947 the entire budget for the National Institutes of Health was still only $8 million. Thus, the major force in funding biomedical research in the U.S., especially on the cutting edge, was private philanthropy. The most active foundation in this area was the John A. Hartford Foundation.

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