Independent Sector and Council of Foundations Send IRS Memorandum Seeking Guidance on Provisions in Pension Protection Act

(Washington, D.C., October 20, 2006) – Independent Sector and the Council on Foundations sent a joint memorandum (PDF) to the Internal Revenue Service on October 18 regarding provisions in the Pension Protection Act that have raised concerns for both organizations. The two organizations have sought guidance from the Internal Revenue Service to assist charitable organizations in complying with the provisions and will be working to address these and other issues of common interest. The memo follows an October 10th meeting with IRS Commissioner Mark Everson and Steve Miller, head of the exempt organizations division.

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Independent Sector is a nonprofit, nonpartisan coalition of approximately 600 charities, foundations, and corporate philanthropy programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the nonprofit community.

The Council on Foundations is a Washington, DC-based nonprofit membership association of more than 2,000 grantmaking foundations and corporations, with assets totaling more than $282 billion. The Council provides the opportunity, leadership and tools needed by philanthropic organizations to expand, enhance and sustain their ability to advance the common good.