‘Vanity Fair’: Cashing Out Early and Giving Back
A “new subculture” of entrepreneurial philanthropy has sprung up on the West Coast as thousands of Microsoft and other high-technology workers have cashed out their stock options while still in their 30s and 40s, says Vanity Fair (December). Unlike in New York, where the wealthy from Wall Street…
By Jennifer Moore
Contributor
‘SmartMoney’: Fund Raising Enters Era of Extremes
Non-profit groups, anticipating a transfer of trillions of dollars from parents to their baby-boomer children, are becoming “all too willing to trample over donors, their heirs, one another, and anyone else who gets in the way” as they compete for a share of it, says SmartMoney magazine (October).…
By Jennifer Moore
Contributor
London’s ‘Sunday Times’: the Gates Scoop That Wasn’t
The Sunday Times of London touched off a wave of press coverage with its August 1 story on the philanthropic intentions of Microsoft Corporation founder Bill Gates and his wife, Melinda. Under the headline “Gates to give away 65-billion-pound fortune,” the article stated that Mr. Gates’s father,…
By Jennifer Moore
Contributor
Charity: a Campaign Front-Runner
Charity issues have become a hot topic among ALSO SEE:Lamar Alexander, RepublicanBill Bradley, DemocratGeorge W. Bush, RepublicanElizabeth Dole, RepublicanAl Gore, DemocratDan Quayle, Republican Presidential hopefuls staking out their positions for the 2000 campaign. Contenders from both major…
By Grant Williams and Jennifer Moore
Charity: a Campaign Front-Runner
Charity issues have become a hot topic among Presidential hopefuls staking out their positions for the 2000 campaign. Contenders from both major political parties have been promoting a variety of strategies that all share a common goal: to find ways for the government to do more to help non-profit…
By Grant Williams and Jennifer Moore
* President Clinton and Hillary Rodham Clinton took $161,938 in charitable-contribution deductions in 1998, including a $62,718 deduction carried over from the previous year, according to their federal tax return. The White House said that the gifts came from earnings from Mrs. Clinton’s book, It…
By Jennifer Moore
Contributor
Court Says IRS Was Right to Strip Church’s Exemption
A federal judge has ruled that the I.R.S. properly pulled the tax exemption of a New York church after it ran newspaper advertisements opposing Bill Clinton as a 1992 Presidential candidate. Under the law, churches and charities must not participate in political campaigns in behalf of, or in…
By Jennifer Moore
Contributor
* Rep. Amo Houghton, a New York Republican, is the next chairman of the House Oversight Subcommittee of the House Ways and Means Committee. He replaces Nancy L. Johnson, a Connecticut Republican. The subcommittee oversees the I.R.S. During Ms. Johnson’s tenure, the panel crafted legislation to give…
By Grant Williams and Jennifer Moore
* Independent Sector, a coalition of major charities and grant makers, has published an analysis of proposed regulations issued by the I.R.S. that explain how the service will enforce a law designed to punish charity officials who receive or bestow inappropriately lavish salaries or perks. The…
By Grant Williams and Jennifer Moore
IRS Panel Says Donors Exaggerate Value of Artwork
The I.R.S.'s Art Advisory Panel has reviewed hundreds of pieces of artwork donated by taxpayers to charity and found, as always, that many people exaggerated the value of paintings, sculpture, and other items. In cases where the objects were left to heirs, however, many people placed too small a…