Colleges and universities receive $31 billion from private contributors. A new tax reform could decrease…
Tax reform could decrease private donors to colleges
New tax deduction reform could result in decreased donations for universities. The U.S. House of Representatives Committee on Ways and Means met recently with universities and charitable organizations as it considered the reform.
Colleges and universities received $31 billion from private contributions, according to the Council for Aid to Education.
Mark Huddleston, President of the University of New Hampshire, presented testimony on behalf of The American Council on Education. Huddleston said he understands the need for deficit reducing reforms, but asks Congress to tread lightly on reforming charitable tax deductions.
“We urge you to proceed cautiously when considering potential changes to the current charitable deduction, which,” Huddleston said, “is vital to generating private support for colleges and universities to help achieve their educational missions of teaching, research and public service.”