The Internal Revenue Service has released the latest version of its Form 990-EZ — the short version of its informational tax form that is used by small charities — and its instructions. The updated form takes effect for the 2008 tax year. The tax agency said the revised Form 990-EZ is similar to…
By Eric Kelderman, Peter Panepento and Paul Fain
Lawmaker Challenges College-Sports Exemption
In the latest salvo in what appears to be a growing interest on Capitol Hill in an investigation of college athletics, a congressman has asked the National Collegiate Athletic Association to justify the tax-exempt status of big-time sports programs. That request came in a letter to the…
By Paul Fain
Contributor
American U. Approves Overhaul of Its Board
By Paul FainWashington In a move that charity leaders hope will head off new federal regulations, American University’s Board of Trustees unanimously approved a sweeping set of recommendations to improve the board’s inclusiveness, accountability, and oversight. The overhaul was conducted in…
By Paul Fain
Contributor
Tufts U. to Use $100-Million Gift to Make Microloans in Developing Countries
Tufts University has received a $100-million gift, and plans to use the money in an unusual way: to make small loans throughout the developing world. The strategy is designed not only to yield good returns, but also to spur economic growth in impoverished regions. The donation was made by Pierre…
By Paul Fain
Contributor
Turmoil Continues at American University
American University, which fired its president, Benjamin Ladner, after a controversy over his spending and compensation, still faces serious problems. Among them: a federal inquiry into Mr. Ladner’s spending and the impact of the resignation of influential members of its Board of Trustees amid…
By Paul Fain
Contributor