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WASHINGTON, DC -- The accelerating concentration of philanthropic power in the hands of the affluent puts nonprofits at risk and can be checked only by significant tax-law changes, argues the latest in a series of reports and critiques focused on big philanthropy. Nearly a third of itemized charitable contributions in 2015 came from households earning more than $1 million annually — up from just 12 percent in 1995, according to the new report. At the same time, the share of giving by average Americans has been declining for most of the 21st century, sapping the strength of national nonprofits that rely on small donations and don’t attract support from the affluent.
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HARTFORD, CT -- As part of Hartford Business Journal's efforts to spotlight the important role of nonprofits, and the businesses that support them, they've launched their inaugural Community Excellence & Nonprofit Awards. The independent panel of judges — Susan D. Sadecki, president and CEO, Main Street Community Foundation; Eric Daniels, partner, Robinson & Cole LLP; and David Garvey, director, nonprofit leadership program and adjunct professor, Department of Public Policy, UConn — selected the winners, who were nominated by the public, in seven different categories ranging from corporate citizenship and volunteer of the year to nonprofit and nonprofit leader of the year. Honorees for the Partnership Award include: include The Hartford, City of Hartford, Hartford Public Library, and CCP members Aetna Inc., and Travelers Cos.
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HARTFORD, CT -- The Hartford Business Journal's Partnership Award Winners are The Hartford, Aetna Inc., Travelers Cos., City of Hartford, and the Hartford Public Library. When insurers Aetna, The Hartford, and Travelers Cos. paid a combined $10 million to the city of Hartford this summer, they were making good on a March 2017 pledge to help the city regain its financial footing by providing a $50 million boost — assuming the city forged a comprehensive and sustainable solution to address its fiscal problems. The insurers saw progress in the last year and paid the first installment of what they and the city hope will be four more annual payments of $10 million. Of that first amount, $8.1 million is covering operating expenses of the Hartford Public Library this fiscal year, with the balance going to law enforcement and recreation.
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HARTFORD, CT -- The Hartford Foundation for Public Giving said Thursday it would invest $2.9 million to provide each of the 29 cities and towns it serves with a fund of $100,000 to use as the communities see fit. “We are exceptionally excited about this new approach,” Hartford Foundation President Jay Williams said, noting that it was prompted by his listening tour of the cities and towns the foundation serves.
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WATERBURY, CT -- The Leever Foundation is delighted to welcome Saran D. White as its inaugural Executive Director effective December 3, 2018.
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A monthly benefit of CCP membership, the NOVEMBER 2018 Member eBrief features: CCP Updates; Member News & Releases; New Resources; Colleague News and Other Events. Remember to login to access this member benefit!
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NEW YORK, NY -- The Internal Revenue Service announced today the official estate and gift tax limits for 2019: The estate and gift tax exemption is $11.4 million per individual, up from $11.18 million in 2018. That means an individual can leave $11.4 million to heirs and pay no federal estate or gift tax, while a married couple will be able to shield $22.8 million. The annual gift exclusion amount remains the same at $15,000. For the ultra rich, these numbers represent planning opportunities. For everybody else, they serve as a reminder: Even if you don’t have a taxable estate, you still need an estate plan.
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NEWARK, NJ -- In response to the ongoing wildfires throughout California that have devasted communities and displaced thousands, Prudential is committing $100,000 to the California Community Foundation and has launched an employee matching gifts campaign of up to $25,000 to California Fire Foundation.
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NEW LONDON, CT -- In partnership with Comcast, New London’s Harbor Elementary School recently hosted the History Channel's Take A Veteran to School Day. Comcast employees who served in the armed forces, some of whom are still serving, spent the morning in 4th and 5th grade classrooms talking to the students about their military experience.