This bill would require certain tax-exempt organizations to publicly disclose more detailed information when they make grants or provide other assistance to foreign entities. Specifically, organizations that already report such grants on their annual tax returns would need to include the foreign entity's name and address, the total amount given to that entity during the year, and details about the entity's legal status, such as whether it is recognized as a charity abroad, qualifies as a 501(c)(3) organization, or has been determined in good faith to meet certain charitable standards under U.S. tax law. The bill also addresses indirect grants, requiring disclosure at each step when money passes through multiple organizations before reaching a foreign recipient. This measure primarily affects nonprofit organizations, charities, and foundations that make international grants, increasing transparency around their overseas funding activities. The new reporting requirements would take effect for tax years beginning after the law is enacted, with no additional federal funding involved since it simply expands existing IRS reporting obligations.
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