As part of a Congressional investigation into alleged ties between charities and terrorist organizations, the Senate Finance Committee plans to hold a hearing -- possibly as early as next week -- on terrorism financing. Earlier this year, the Senate Finance Committee, which oversees nonprofit…
By Elizabeth Schwinn and Brad Wolverton
Harsh Hurricane Season Puts Strain on Organizations That Provide Relief
The back-to-back hurricanes that hit Florida -- and those that may follow in what experts say could be an unusually severe hurricane season -- are straining charities’ ability to pay for relief efforts. Less than a week after Hurricane Frances made landfall, the American Red Cross had raised just…
By Elizabeth Schwinn
Contributor
Economists Examine New Way to Promote Giving
Donors might significantly increase their gifts to charity if the federal government directly matched a part of their donations rather than allowing them to take charitable-tax deductions, two economists, Catherine C. Eckel of Virginia Tech and Philip J. Grossman of St. Cloud State University, say…
By Elizabeth Schwinn
Contributor
Providing Aid to Those Who Were Ignored by Relief Efforts
Lake Wales, Fla.
By Elizabeth Schwinn
Contributor
Biggest disaster since 9/11 tests improved coordination effortsWashington It’s 11 a.m. at the Federal Emergency Management Agency’s disaster command office, and about 15 charity ALSO SEE:Providing Aid to Those Who Were Ignored by Relief EffortsHurricane-Relief Donations Fall Short of Needs So Far…
By Elizabeth Schwinn
Contributor
Charitable Deductions Fell in 2002, IRS Says
New statistics released by the Internal Revenue Service show that deductions claimed for charitable ALSO SEE: Charitable Deductions Claimed on Tax Returns contributions declined in 2002, falling from $139.2-billion in 2001 to $136.3-billion in 2002, a drop of 2.1 percent. The decline is only the…
By Elizabeth Schwinn
Contributor
IRS Questions Charities About Pay and Benefits
The Internal Revenue Service has begun contacting nearly 2,000 charities and foundations as it officially kicks off an effort to crack down on groups that are providing excessive pay or benefits to their top executives. The majority of the organizations selected by the IRS were chosen because…
By Elizabeth Schwinn
Contributor
The IRS has released a memorandum on credit-counseling organizations that concludes that many organizations do not meet the standards for receiving tax exemptions. The memorandum, released by the IRS chief counsel, is essentially a blueprint to help auditors and others in the IRS decide when to…
By Elizabeth Schwinn
Contributor
Senate Panel Approves Nonprofit Security Bill
A Senate panel has approved legislation to authorize the federal government to spend up to $100-million a year to improve security at nonprofit-owned buildings that are determined to be at increased risk for a terrorist attack, including churches and synagogues. The bill, the High Risk Nonprofit…
By Elizabeth Schwinn
Contributor
Bush Tactics Endanger Churches, Groups Say
Nonprofit religious and watchdog groups are warning that President Bush’s re-election campaign may encourage churches to violate federal tax law by the methods it recommends for church volunteers to maximize voter turnout. A memo from the Bush campaign to church volunteers around the country lists…
By Elizabeth Schwinn
Contributor