‘Forbes’: Reinventing Traditional Giving
Pierre Omidyar, who started the online auction site eBay, is pouring his money into philanthropy -- but not before trying to reinvent it, says Forbes magazine (May 1). Mr. Omidyar and his wife, Pamela, are trying to use the principles of venture capitalism to “demolish” traditional models of grant…
By Thomas J. Billitteri
Contributor
Dollar Value of Gift Annuities Rose Sharply, Survey Shows
The average dollar value of charitable gift annuities, a popular form of planned giving, ALSO SEE: Where Charities Invest Annuity Donations Gift Annuities: How Average Size Varies by Charity Beneficiary rose 59 percent from 1994 to 1999, to $30,182, according to a survey released last week by the…
By Thomas J. Billitteri
Contributor
‘Vulture’ Trusts Prohibited Under IRS Rules
The Internal Revenue Service has issued proposed rules that close down a controversial form of charitable trust in which gravely ill people are exploited to help wealthy ones save on gift and estate taxes. So-called vulture trusts involve what the I.R.S. says are “abusive” forms of charitable lead…
By Thomas J. Billitteri
Contributor
Support Grows for Adoption of New Federal Rules on Donor-Advised Funds
Donor-advised funds have become one of the nation’s most popular giving techniques. ALSO SEE:A Run for the MoneyThe Boom in Donor-Advised FundsLawsuit in New York Could Affect Earmarked Funds at 550 Community Foundations And yet the funds operate with few clear legal guidelines. But that may soon…
By Thomas J. Billitteri
Contributor
Growth in donor-advised accounts spurs fierce competition for funds Robert J. Brennan, the top fund-raising official at the Humane Society of the United States, says he is concerned about a change in the giving habits of the charity’s biggest donors. ALSO SEE:Support Grows for Adoption of New…
By Thomas J. Billitteri
Contributor
Florida Donor Sues to Recover $3.6-Million Gift to Seminary
A Florida philanthropist and technology-company executive is asking a court in Tampa to return a $3.6-million donation that he made last year to a seminary in Charlotte, N.C. John Sykes, chief executive of Sykes Enterprises, in Tampa, is alleging in a lawsuit filed in Hillsborough County Circuit…
By Thomas J. Billitteri
Contributor
United Way Fights to Stay Abreast in Changing Fund-Raising Climate
Over the decades, the United Way system has weathered all sorts of difficulties, ALSO SEE:United Ways Seek a New IdentityCharts on United Way giving and growth from recessions that have squeezed giving to a financial scandal involving the federation’s top leader that caused donations to plunge. But…
By Thomas J. Billitteri
Contributor
United Ways Seek a New Identity
Many shift from just collecting gifts to leading the battle against social ills In January, the United Way in Los Angeles announced a change in the way it operates. The United Way will be concentrating more and more of its resources on a single objective: ALSO SEE:United Way Fights to Stay Abreast…
By Thomas J. Billitteri
Contributor
‘The Economist’: Scrutinizing Nongovernmental Groups
Non-profit organizations that work closely with the United Nations and governments to provide war and famine relief and other charitable services are growing rapidly throughout the world, but they aren’t always forces for good, says The Economist (January 29). Many so-called nongovernmental…
By Thomas J. Billitteri
Contributor
For-Profit Social-Service Contracts Could Hurt the Poor, Leaders Say
In an effort coordinated by Catholic Charities USA, officials of 18 major social-service organizations have issued a statement warning that the poor could suffer as government officials turn to for-profit companies to provide social services to the needy. The statement calls for stronger government…
By Thomas J. Billitteri
Contributor