IRS Issues New Rules on Disclosing Charity Income
The Internal Revenue Service has released rules that explain how charities should put into practice a new law that requires them to publicly report income they receive that is not related to their missions. Under the Pension Protection Act, which became law last August, all charities for the first…
By Elizabeth Schwinn
Contributor
Tax Agency Reviews Lease Donations
The Internal Revenue Service says it is investigating a possible tax scam involving charities that accept donations of a type of property lease. In a letter to Sen. Max Baucus, the Montana Democrat who chairs the Senate Finance Committee, the tax agency says it has identified 48 companies, mostly…
By Elizabeth Schwinn
Contributor
Foundation Officials Agree to Pay $1.9-Million to Settle Compensation Dispute in New York
The State of New York has recovered nearly $2-million from officials of the William T. Morris Foundation as part of a settlement agreement announced this month. The state had alleged that the foundation overpaid the officials for their work. Attorney General Andrew Cuomo of New York said the…
By Elizabeth Schwinn
Contributor
How Much Fund Raising Really Costs
Charities use new databases to make appeals more efficientWhen Creighton University’s board of directors decided to seek $350-million in its capital campaign, a steep rise from the $250-million goal it had set previously, Lisa Calvert knew she would need more fund raisers. However, she was…
By Elizabeth Schwinn
Contributor
Donor ‘Giving Circles’ Awarded $13-Million in Grants to Charities Last Year, Report Says
By Elizabeth SchwinnGroups of people around the country who pool their contributions and then decide collectively how to donate them gave an estimated $13-million to charity in 2006, according to a new report. Over all, such “giving circles” have raised a total of about $88-million. Most of the…
By Elizabeth Schwinn
Contributor
As the Internal Revenue Service cracks down on charities that it says have provided down-payment help that is of more benefit to property owners than to needy home buyers, another agency has taken steps to discourage such assistance in the future. The Department of Housing and Urban Development…
By Elizabeth Schwinn
Contributor
Two Key Senators Urge IRS to Require Charities to Disclose Additional Information
Two key Senators urge IRS to require charities to disclose additional information
By Elizabeth Schwinn
Contributor
Seven American Lung Association Affiliates Sever Ties With National Charity
The Chicago affiliate of the American Lung Association last week announced that it will separate from the association, the latest in a string of affiliates that have severed their ties with the national organization. The departure of the influential Chicago affiliate from the national association,…
By Elizabeth Schwinn
Contributor
House Committee Plans Nonprofit Hearings
The chairman of the House Committee on Ways and Means plans to hold hearings on tax-exempt groups. Rep. Charles B. Rangel, a New York Democrat who chairs the committee, wants nonprofit organizations to show why they deserve to be tax-exempt and what they do to help poor and elderly people,…
By Elizabeth Schwinn
Contributor
From Charity Watchdog to Charity CEO
Selection of the IRS head to lead the Red Cross draws both praise and criticism from nonprofit expertsThe American Red Cross’s decision to hire the head of the Internal Revenue Service as its next leader — after a year-long search — is drawing praise from many charity and government officials,…
By Elizabeth Schwinn
Contributor