N.C. Charities Say State Senate Budget Plan Would Reduce Nonprofit Services
The plan would reduce from $45 million to $1 million the amount nonprofits could claim in tax exemptions by 2020 and would cap the charitable-gift deduction, Raleigh’s WRAL radio station and The Stanley News & Press report.
Senate Subcommittee Votes to Double Nonprofit Security Funds
The money available for security grants for the 2016 fiscal year would increase from $13 million to $25 million, the Jewish Telegraphic Agency reports.
Backers and Critics of Donor-Advised Funds Debate Their Merits
Despite their differences, participates in an Urban Institute conference agreed the funds are more efficient than small private foundations.
By Rebecca Koenig
Contributor
IRS Advisory Panel Calls for Mandatory Electronic Filing of Form 990s
The group also recommended a review of the informational tax form to see if it needs revisions.
Clinton Foundation Has Raised $11 Million in Speaking Fees From Nonprofits
Since 2001, the Clinton Foundation has taken in as much as $11.7 million for speeches by Bill, Hillary, and Chelsea Clinton at smaller nonprofits, according to Politico.
Nonprofit Pools Investments to Support Social-Good Startup Companies
The Prime Coalition provides seed money to early-stage companies with a social purpose to help them until they find traditional funding, The Boston Globe reports.
House Bill Would Remove Private Foundation Safeguards
A bill passed by the House to exempt donations to groups that engage in political and lobbying activities from the federal gift tax would also allow wealthy people to avoid safeguards placed on private foundations, a tax lawyer writes in The Hill.
$20-Million Gifts Boost Cancer Studies at USC and Wake Forest
The University of Southern California announced a $20 million gift to its Keck School of Medicine for leukemia research and treatment, and Wake Forest Baptist Medical Center will receive a like amount to study the effects of muscadine grape extract on breast and prostate cancers, the Winston-Salem Journal reports.
Grants Roundup: Houston Endowment Awards $8.2 Million to Support Needy Students
Other awards include a pledge for $3 million from the Jerome L. Greene Foundation supporting a teen pregnancy-prevention program in the Bronx.
By Eden Stiffman
Senior Editor
Criticized in the U.S., Charity Watchdogs Are Admired Overseas
Nonprofit leaders in places like Czech Republic, Japan, and Taiwan are working on evaluation systems and building a culture of transparency and trust.
By Megan O’Neil
Contributor