Faith Charity to Sue Ky. for Denying Tax Breaks for Ark Park
Answers in Genesis, a nonprofit group that promotes a literal interpretation of the Bible, said Tuesday that it will file a federal bias suit against Kentucky for denying it tax incentives to help finance a Noah’s Ark-based theme park, reports The Courier-Journal of Louisville.
In Beverly Hills, Gifts Put Names on Public-School Grounds
The Los Angeles Times writes about the Beverly Hill Unified School District’s sale of naming rights to campus facilities, an uncommon practice for a public-school system and one that has ignited a spat between two area real estate agents.
Nonprofit ECMC to Forgive Student Debt in Corinthian Deal
The nonprofit organization taking over more than 50 campuses from commercial educator Corinthian Colleges has agreed to forgive $480-million in private student loans, clearing the way for federal approval of the sale, The Wall Street Journal and the Associated Press write.
Donor Leaves $20-Million Endowment to N.C. Community Fund
Louise Oriole Burevitch, who died in September at age 97, left a $20-million endowment to be administered by the North Carolina Community Foundation, Triangle Business Journal writes.
Navy Spouse Gets 18 Months for Theft From SEAL Charity
The wife of a Navy SEAL was sentenced Monday for embezzling as much as $170,000 from a nonprofit that assists members of the elite unit and their families, The Virginian-Pilot reports.
PayPal Says Year-End Giving Increased 50 Percent
The payment processing company funneled $212-million to nonprofits during the 2014 year-end giving season, with a big boost from mobile.
By Rebecca Koenig
Contributor
Jack and Barbara Nicklaus Donate $60-Million to Miami Hospital
The facility will be renamed for the golf legend and will help support new family-centered intensive-care units, among other programs.
By Heather Joslyn and Eden Stiffman
New House Oversight Chair Eyes NFL’s Nonprofit Status
Rep. Jason Chaffetz called the Super Bowl evidence that the National Football League is a “for-profit venture” and said he intends to call Commissioner Roger Goodell to testify on the league’s tax-exempt status, CNN and UPI report.
Obama Aims to Close Tax Loophole on College-Sports Gifts
The president’s budget plan calls for ending a tax break for donors who give to college athletics programs to secure the best seats at big games, Reuters and Bloomberg report.
Broad Foundation Hits ‘Pause’ on $1-Million Education Prize
The Eli and Edythe Broad Foundation has put a hold on awarding its yearly prize for advances in urban school districts, citing disappointing academic results and difficulty finding qualified finalists, Education Week writes.