IRS Acts to Ease Overseas Grant Making
By ELIZABETH SCHWINNThe Internal Revenue Service has issued a statement that could make it easier for private foundations to award grants to organizations outside the United States. The statement is intended to reduce the amount of paperwork foundations must do when awarding overseas grants. Before…
By Elizabeth Schwinn
Contributor
N.Y. Children’s Shelter Accused of Misusing Funds
By ELIZABETH SCHWINNNew York’s attorney general is investigating charges of financial mismanagement at Hale House Center, a Harlem children’s shelter. Attorney General Eliot L. Spitzer named a six-member interim board to oversee the organization, and he subpoenaed its financial records after the…
By Elizabeth Schwinn
Contributor
Charities Fear Limitations in Campaign-Finance Bills
By ELIZABETH SCHWINNSome charities fear campaign-finance legislation being considered by Congress would go too far in limiting their ability to advocate for their causes. The groups are fighting to change provisions in two campaign-finance bills pending in the House of Representatives that would…
By Elizabeth Schwinn
Contributor
New Study Details Giving Habits, Preferences of High-Tech Millionaires
By ELIZABETH SCHWINNThe slowdown of the economy won’t deter donors who made their fortunes in the high-tech economy from continuing to give, according to a new study released by the Association of Fundraising Professionals. The association commissioned Boston College’s Social Welfare Research…
By Elizabeth Schwinn
Contributor
Charities Urged to Trim Gift-Annuity Rates
By ELIZABETH SCHWINNChanges in the financial markets should prompt charities to lower slightly the payout rates they offer to most donors of gift annuities, according to a national organization of planned-giving fund raisers. ALSO SEE: New Gift-Annuity Rates The American Council on Gift Annuities…
By Elizabeth Schwinn
Contributor
New California law may overburden drug-treatment programs in stateIn two months, nonprofit drug-treatment centers throughout California will probably be inundated with clients seeking help kicking their addictions. The clients will be sent to them instead of the state’s prisons, courtesy of a new…
By Elizabeth Schwinn
Contributor
Philanthropy and President Bush’s Budget: the Key Proposals
By ELIZABETH SCHWINNPresident Bush last week proposed $258-million in new grant programs for religious ALSO SEE: President Bush’s Budget charities and other groups that provide social services. The House and Senate will spend the next few months debating President Bush’s budget proposals as they…
By Elizabeth Schwinn
Contributor
IRS Approves Unusual Stock Donation
By ELIZABETH SCHWINNMaking an exception to its usual position, the Internal Revenue Service has told a taxpayer that he may deduct stock he gives to a nonprofit group as a charitable donation even though somebody else retains the right to vote as the shareholder, according to a recent private…
By Elizabeth Schwinn
Contributor
Nonprofit Coalition Takes Stand on Tax Issues
By ELIZABETH SCHWINNAs Congress considers measures to phase out the estate tax, opposition to the plan is mounting among nonprofit groups. Independent Sector, a coalition of charities and grant makers, has spoken out for the first time against repeal of the tax, calling it “a proven incentive for…
By Elizabeth Schwinn
Contributor
Congress Considers Charity Proposals
By ELIZABETH SCHWINNNumerous bills have been introduced in the House and Senate to promote charitable giving. Perhaps most likely to pass this year, charity experts and others say, is a measure that would permit donors over age 59 to donate money from their I.R.A.'s without paying taxes. Lawmakers…
By Elizabeth Schwinn
Contributor