"is it better to provide that incentive for dollars that are spent sooner, or later? " - it's better to provide the incentive when the money goes out the door, i.e. endowment money is liquidated to give scholarships. Otherwise, these intermediaries are like banks; using your money to make money 'til you need it (albeit, the contribution realization event mentioned above is intriguing).
Another option is no tax credit for giving. Philanthropy has been around for millennia and tax-based philanthropy for 100 years.
Lastly, I thought private foundations were subject to a 2% excise tax on investment income.
"is it better to provide that incentive for dollars that are spent sooner, or later? " - it's better to provide the incentive when the money goes out the door, i.e. endowment money is liquidated to give scholarships. Otherwise, these intermediaries are like banks; using your money to make money 'til you need it (albeit, the contribution realization event mentioned above is intriguing).
Another option is no tax credit for giving. Philanthropy has been around for millennia and tax-based philanthropy for 100 years.
Lastly, I thought private foundations were subject to a 2% excise tax on investment income.