‘Fast Accounting’ Can Skew Picture of a Charity’s Finances
Barron’s Penta spotlights types of “accounting chicanery” that nonprofit watchdog groups say can mask excessive fundraising or administrative expenses and that donors should look out for in vetting potential beneficiaries.
Calif. Legislators Craft $2 Billion Plan to House Homeless
Facing a rising tide of homelessness in otherwise booming regions, state lawmakers are putting the finishing touches on a proposal to channel $2 billion into building permanent housing for the homeless, writes the Associated Press.
Millennials Most Interested in Education, Health Care, and the Economy, Study Finds
More than half of the young adults surveyed by research group Achieve said they had recently donated money to support a cause and nearly half had volunteered.
By Rebecca Koenig
Contributor
Legal Filings Show Conservative Groups Got Most IRS Scrutiny
Right-leaning organizations made up a sizable majority of more than 400 politically active organizations whose applications for nonprofit status received special scrutiny by the Internal Revenue Service, NPR reports, citing recent court filings in a federal suit against the agency.
Orlando to Give $7 Million Directly to Shooting Victims
Orlando officials announced Friday that money contributed to a city-led fund to assist those affected by the Pulse nightclub shooting will go straight to victims and families instead of being distributed through charities, The New York Times reports.
Top USC Sports Official Paid Big by Small Foundation
Athletic director Pat Haden and two family members have collectively received $2.4 million for board and other positions with a small foundation that gives scholarships to needy students, many of whom attended the university, according to a Los Angeles Times investigation.
Liberal Group Files IRS Complaint Against Trump Foundation
A pro-Hillary Clinton organization filed a complaint with the Internal Revenue Service Friday accusing Donald Trump of violating tax laws by turning his charitable foundation into a “political tool,” writes The Washington Post.
3 Leading Met Museum Officials Exit Amid Budget Crunch
The Metropolitan Museum of Art’s first chief digital officer is among those departing as the institution begins a staff winnowing to tackle persistent red ink, reports to The New York Times.
Gifts Roundup: D.C. Financier Donates $20 Million to the Holocaust Museum
Other notable gifts include $25 million to Harvard University to establish new scholarship programs in the arts and humanities.
By Maria Di Mento
Senior Editor
IRS Toothless When It Comes to Policing Nonprofits, Report Says
An independent study released by the agency says a lack of funding, loss of institutional knowledge, and change in strategy are eroding the IRS’s ability to regulate charities.
By Alex Daniels
Contributor