Both Houses of Congress Pass Giving Bill
Washington Legislation designed to encourage more charitable giving has now passed both houses of Congress and awaits a conference between the House and Senate, but some lawmakers continue to raise concerns about whether a charity bill that costs the federal government money can be passed while the…
By Brad Wolverton
Contributor
Charity Legislation Faces New Hurdle in Congress: Budget Realities
Washington By Brad Wolverton As members of the U.S. House of Representatives prepare to vote on proposed charity legislation that was stripped of a controversial foundation provision last week by the House Committee on Ways and Means, the bill faces new budgetary obstacles that might prevent it…
By Brad Wolverton
Contributor
Board’s actions at issue at troubled D.C. United WayWashington In 1998, Oral Suer, then chief executive of the United Way of the National Capital Area, in Washington, told The Chronicle ALSO SEE:Excerpts of the Audit of the D.C.-Area United Way that he sought no raise in pay, declaring that his…
By Brad Wolverton
Contributor
Key Senator Introduces Foundation-Payout Proposal
Washington An influential Republican senator has introduced a bill that would require grant makers to exclude some -- but not all -- administrative expenses when they calculate whether they have met the federal requirement that they give away at least 5 percent of their assets to charity each year.…
By Brad Wolverton
Contributor
Groups look for better ways to prevent employee theftTen days after Cathy Adcock became chief financial officer of the Capital Area United Way, in East Lansing, Mich., last December she noticed during an internal review that dozens of checks were missing from the organization’s records. When the…
By Brad Wolverton
Contributor
Bequest to Metropolitan Opera Challenged
Representatives of Sybil B. Harrington, a Texas oil heiress who died in 1998, are suing the Metropolitan Opera, in New York, to recover $5-million of Mrs. Harrington’s donations that they say were misappropriated by the organization. The opera has denied any wrongdoing. Before she died, Mrs.…
By Brad Wolverton
Contributor
A Look at Investments, Borrowing Trends, and Charity Views on Finances
Investments held by private and community foundations performed better than two major stock-market indicators last year, but still declined nearly 9 percent in value, according to a new study by the Commonfund Institute, an organization in Wilton, Conn., that provides financial information to grant…
By NICOLE WALLACE, Michael Anft and Brad Wolverton
‘Harvard Business Review’: Cause Marketing
In the post-boom economy, some businesses have combined their marketing and charitable-giving strategies, notes an article in the Harvard Business Review (July). The companies are increasingly seeking to support charities in ways that will enhance their reputations, help them sell more products or…
By Elizabeth Schwinn and Brad Wolverton
‘Bloomberg Wealth Manager’: Donor Funds
A declining stock market caused assets to fall nearly 6 percent to $3.4-billion last year at 25 of the nation’s largest commercial donor-advised funds, according to an article in Bloomberg Wealth Manager (June). The declining market also led two companies -- Thornburg Investment Management and…
By Elizabeth Schwinn and Brad Wolverton
Two Groups Oppose Foundation Measure
Two major associations that represent nonprofit groups have announced their opposition to legislation in the House of Representatives that would probably require many foundations to give more to charity every year. Despite the opposition, one of the bill’s sponors says that he has substantial…
By Brad Wolverton
Contributor