May 19, 2025 CFWM News

Public Statement to Representatives on Measures to Increase Taxes on Private Foundations and Higher Ed Institutions

As Congress considers a major tax bill, we urge our representatives to oppose measures that would increase taxes on private foundations and higher education institutions. The House proposal to increase the tax on endowment income would take resources away from the nonprofits that work to make our communities stronger and from students at a time when they are already overstretched.

Private foundations are not just funders—they are our partners. Together, we invest in our nonprofits throughout our region. Nonprofits across the Valley provide residents with critical services. The proposed tax increase would limit essential contributions and services at a time when nonprofits are seeing increased demand for the services they provide.

We are also deeply concerned about the simultaneous push to cut federal support and increase the tax on colleges and universities, at a time when a college education is unaffordable for so many. We should be encouraging our colleges and universities to increase their support to students, not take away the very resources that might better enable them to complete their education. We work hand in hand with many higher education institutions in the Valley that support student success as a path to economic mobility. And as partners in this work, we oppose efforts that would make their job harder and undermine completion efforts for our students.

An increase in the tax for Foundations and higher education institutions would be a shortsighted decision, depriving communities of critical resources at a time when needs are rising. Now is the time to invest, not take resources away from our community.

Author | Contributor:

Megan Burke
President and CEO