For all media queries on The Community Foundation for Ireland and philanthropy, please contact Una O Murchu, Marketing & Communications Executive on 01 874 3821 or uomurchu@foundation.ie

Latest News

Community Foundation Announces new Chair

22 February 2012 | In

The Community Foundation for Ireland has appointed a new Chairperson, Louis FitzGerald. A chartered accountant, Louis retired from Airtricity in 2008 which he had co-founded in 1997. He is also a Trustee & Ambassador at Renewable World (formerly the Koru Foundation) and a director of several investment companies. Louis takes over from Brian Wilson and previous Chairs include businessmen John Gallagher and Chris Horn.

Proposed New Tax Treatment of Charitable Donations

22 February 2012 | In

Julie Herlihy, a Tax Partner at Baker Tilly Ryan Glennon responds to recent proposed changes to the tax benefits for charitable giving. Julie is a member of The Community Foundation’s Professional Advisor Philanthropy Network.

The current turbulent economic climate is proving challenging for charities. The combination of sometimes dramatic decreases in financing with increasing numbers of requests for assistance has resulted in increased pressure on most charities.

Against this backdrop, the Irish Charities Tax Reform Group have been involved in detailed discussions with the Revenue Commissioners and the Department of Finance in an attempt to ensure policies are adopted by the Government to incentivise independent fundraising and promote activity within the sector. In particular, they have sought two changes for charities; the current tax relief system and the current VAT system.

Capital Gains Tax (CGT) - How it Works for Philanthropy

22 February 2012 | In

Our thanks to Susan O’Connell of O'Connell Brennan for the following update.

Many advisors in Ireland are unaware of the tax benefits which could apply for their clients following a ‘windfall event’ which could aid setting up, for example, a family fund. The CGT rate has increased from a low of 20% to 30% in more recent times in Ireland, making it all the more attractive. No upper limit / cap applies. Donations of non-cash assets to charity can benefit from relief from capital gains tax under Section 611 of the Taxes Consolidation Act 1997.

A Glimpse of the Future - Silicon Valley Community Foundation

09 February 2012 | In

We often hear about Ireland seeking to emulate what has been achieved technology wise in Silicon Valley – and in fairness Ireland is doing well. What is less well known here is the Silicon Valley philanthropy success story that has followed. The Silicon Valley Community Foundation has awarded over $1 billion in grants from its endowment and donor funds since 2007 alone! It holds over 1,500 charitable funds on behalf of donors, many of whom made their money there from IT.

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