Foundations May Face New State Rules on Diversity
By Sam KeanWorries about the struggling economy dominate much of the foundation world, but many grant makers are also ALSO SEE:DATABASE: Giving Trends at Big FoundationsARTICLE: A Year of Slower GrowthARTICLE: Building on TraditionARTICLE: How The Chronicle Conducted Its Survey of America’s Largest…
By Sam Kean
Contributor
Key Tax Official Plans to Step Down
Roger Colinvaux, legislation counsel to the Congressional Joint Committee on Taxation, has announced he is leaving his post at the end of April. He accepted a teaching job at Catholic University of America’s law school, in Washington. Mr. Colinvaux helped shepherd key legislation for nonprofit…
By Sam Kean
Contributor
Foundation assets rose 4.6% in 2007, Chronicle study findsAssets and giving at the nation’s wealthiest foundations increased in 2007, a new Chronicle survey finds, ALSO SEE: DATABASE: Giving Trends at Big Foundations TABLE: The Nation’s 10 Wealthiest Foundations TABLE: Large Grants in 2007: a…
By Sam Kean
Contributor
IRS Explains How to Request Forms on Business Income
The Internal Revenue Service has issued a notice explaining how people can request copies of a nonprofit organization’s Form 990-T, which lists unrelated business income. All 990-Ts filed after August 17, 2006, are available from the IRS, but the agency does not currently have a way for people to…
By Sam Kean
Contributor
Law on Vehicle Gifts Produces Mixed Results
In a new report, the Government Accountability Office has found that charities have had mixed experiences with donations of cars and other vehicles after a 2005 law altered how much donors could deduct for such gifts. Before January 1, 2005, donors could claim a tax break equal to the fair market…
By Sam Kean
Contributor
Google Offers New Site for Nonprofit Groups
The Internet search company Google has opened a new portal for nonprofit groups that explains how to adopt Google features and software for charitable work. The available tools include an e-mail program, mapping software, blog software, tools to analyze Internet traffic, and a grants search engine,…
By Sam Kean
Contributor
IRS Asks Charities to Help Promote Tax Rebates
The Internal Revenue Service is asking nonprofit organizations to help publicize the government’s tax-rebate program and to make sure that all people eligible to receive a rebate know how to claim it. Many Americans will receive a rebate of up to $600 each as part of the federal government’s recent…
By Sam Kean
Contributor
The misuse of nonprofit organizations to shield income or provide fake tax breaks has once again appeared on the Internal Revenue Service’s “dirty dozen,” the agency’s annual list of the top 12 tax scams in the United States. Most of the abuse stems from people giving money or property to charities…
By Peter Panepento and Sam Kean
Happiness Comes to People Who Give, Study Finds
It turns out you can buy happiness, as long as you don’t try to buy it for yourself. Psychology scholars conducted an array of experiments that found people are happier when they spend money on others, such as giving to charity, than when they spend money on themselves. In research findings…
By Sam Kean
Contributor
Foundation’s Online Grant Contest Receives Thousands More Entries Than Expected
The Case Foundation, in Washington, has announced 20 finalists for its Make It Your Own awards, and will now submit those groups to a public vote to decide which four of them should win $25,000 each. The Case Foundation is one of a growing number of charities, foundations, and even corporations…
By Sam Kean
Contributor