Tax Agency Issues Ruling on Automobile Gifts
The Internal Revenue Service has issued a revenue ruling that explains how donors and charities should properly handle gifts of used cars. Revenue rulings from the IRS are designed to help the public by stating the government’s official position on aspects of tax law. In its position paper, the IRS…
By GRANT WILLIAMS
Contributor
The Nation’s Major Charity-Watchdog Groups: At a Glance
American Institute of Philanthropy BBB Wise Giving Alliance Charity Navigator Wall Watchers’ Ministry Watch Year started 1993 2001* 2002 2000 Budget $350,000 $1.3-million $500,000 $500,000 Number of employees 4 full-time 10 full-time 9 full-time 4 full-time; 1 part-time Sources of income Individual…
New Service Screens Charities for Prospective Donors, for a Fee
William’s Bay, Wis.
By Ian Wilhelm
Contributor
Stock Market, Interest Rates Force Nonprofit Groups to Rethink Charitable Trusts
The potential for payout problems with charitable remainder trusts is forcing charitable groups, donors, and financial institutions to rethink their giving approaches, and causing some donors to be more cautious in how they set up charitable gifts that fluctuate with interest rates or the stock…
By Brad Wolverton
Contributor
Majority of Americans Plan to Give During Holidays
Ninety-one percent of Americans say they plan to either give money or time directly to charities during the holiday season, or to patronize companies that do so, according to a new survey. The percentage is similar to last year’s finding that 94 percent of adults planned charitable activities…
By DAVID WHELAN
Contributor
Proposed fund-raising rules too restrictive, critics sayCharities from across the country are protesting a proposed change in New York State fund-raising law. They argue that the proposal would force nonprofit groups to change the way they do business and give the state too much power to dictate…
By Elizabeth Schwinn
Contributor
$220-Million to Build College Pledged by Pizza Entrepreneur
Thomas S. Monaghan, the founder of Domino’s Pizza, announced last week that he and his Ave Maria Foundation have pledged $220-million to create a Catholic university near Naples, Fla., and an additional $18-million for an interim campus. He said he and other investors would also spend $100-million…
By Meg Sommerfeld
Contributor
New Institute Will Study Faith and Philanthropy
A $5-million gift to Indiana University by the family of a former Lilly Endowment chairman will be used to create an institute that will explore the connection between faith and charitable giving. The Lake Family Institute on Faith and Giving, established by the children of the late Thomas H. and…
By Brad Wolverton
Contributor
Heir to Lilly Fortune Pledges $100-Million
The Modern Poetry Association, in Chicago, publishers of Poetry magazine, has received a pledge expected to total $100-million over 30 years from Ruth Lilly, 87, heir to the Eli Lilly pharmaceutical fortune. Much of the gift is being made in stock in the Lilly company, so its value will depend on…
Some Catholics Stop Gifts Due to Scandal, Poll Finds
The clergy sexual-abuse scandal that has rocked the Catholic church so far has had a limited effect on giving to the church. But that effect could grow significantly if donors find out that their gifts have been used to settle sexual-abuse lawsuits, according to a new report released by Foundations…
By NICOLE WALLACE
Features Editor