Through a Post-September 11 Looking Glass: Assessing the Roles of Federal Tax Laws and Tax Policies Applicable to Global Philanthropy by Private Foundations and their Donors

Abstract:     
The September 11 catastrophes have presented America with an opportunity to analyze both our nation's continued vulnerabilities and the many factors that contributed to widespread anti-American sentiments abroad that culminated in heinous acts by radical extremists. Thus, the tragedies should catapult this country into a heightened appreciation of the many compelling reasons to enhance economic development abroad while promoting social stewardship globally, both for the inherent worthiness of their good as well as for the improvement of this country's image abroad. Crucial to these invaluable goals, and as one foreign policy ingredient, our government should develop a global philanthropic policy that encourages greater financial participation by America's citizens, corporations, and nonprofit organizations.

To promote global philanthropy today, international considerations must become central in the design of our tax laws and tax policy. The government's lawmakers and policy-makers must understand the impact that their design has on our donors, on global philanthropic vehicles, and, consequently, on the types of decisions that the boards of trustees, program officers, and legal counsel of those philanthropic vehicles must make. Congress and the administration must analyze the federal tax structures under which global philanthropy operates and, because of the importance.

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