Bank Sues Philadelphia Trust in Quest for Additional Compensation
Many beneficiaries of charitable trusts have been taking banks to court in recent years to argue that the ALSO SEE:Loss of TrustClose Monitoring of Charitable Trusts Adds Up to Big Sums for One Group financial institutions have improperly handled trust money. But sometimes banks sue nonprofit…
By Brad Wolverton
Contributor
Donors, foundations say banks mishandle charitable accountsMany charities and foundations believe they are losing millions of dollars a year to the very institutions they ALSO SEE: Bank Sues Philadelphia Trust in Quest for Additional Compensation Close Monitoring of Charitable Trusts Adds Up to Big…
By Brad Wolverton
Contributor
Waging Peace Through Film and Poetry
Like seven generations of men before him, Andrew Himes was expected to become a Baptist preacher. But that plan changed when he was in eighth grade and a race riot broke out in his school in rural Tennessee. As he watched his classmates scream obscenities at two black children bused in from across…
By Brad Wolverton
Contributor
Senate Plans April Hearing to Examine Charity Abuses
In a sign that legislators are showing more interest in cracking down on charities, the Senate Finance Committee announced last week that it plans to hold a hearing on April 5 to shed light on a few key nonprofit abuses and to give lawmakers a chance to ask questions about problems they see in…
By Brad Wolverton
Contributor
Charity and foundation leaders sidestep thorniest issues in a report to Senate, critics sayWashington Be bold. Those were the words that Diana Aviv, president of Independent Sector, says she kept in mind over the past few months as she oversaw the work of a national ALSO SEE:TEXT: Encouraging…
By Brad Wolverton
Contributor
Congressional Unit, White House Seek to Curb Abuses of Charity Tax Breaks
Washington Scrutiny of nonprofit organizations continues to escalate, as President Bush and a powerful Congressional committee urged lawmakers to take action on what they identified as dozens of abuses involving charities and foundations. While the $2.6-trillion budget President Bush submitted to…
By Brad Wolverton
Contributor
Report Calls for Federal Charity Database, Other Changes to Improve Oversight
A new report by a national panel of nonprofit experts urges charities and foundations to make dozens of changes in their operations to strengthen their governance and accountability and to help prevent legal abuses in the nonprofit world. The report comes in response to a request from key members…
By Brad Wolverton
Contributor
IRS Asks Organizations Seeking Charity Status to Supply More Details
As the number of groups seeking charity status has soared in the past decade, the Internal Revenue Service has struggled to keep up. More than 90,000 groups applied for charity status in 2003, the most recent year for which data are available, up from about 60,000 in 1993. Even though demand for…
By Brad Wolverton
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Charity seeks to create jobs by collecting patent rightsManhattan, Kan.
By Brad Wolverton
Contributor