Tax-Exempt Organizations Registered With the IRS
By Elizabeth SchwinnMore than a million charities and private foundations were registered with the Internal Revenue Service as of September 30, 2005, according to figures released by the tax agency, up from roughly 800,000 in 2000. The number of groups classified under Section 501(c)(3) of the…
By Elizabeth Schwinn
Contributor
Following are summaries of recent reports by the BBB Wise Giving Alliance. This private group reports on whether charities meet standards for fund raising, governance, financial management, and public information. The alliance does not approve or disapprove of charities, and urges potential donors…
Ellison Reneges on $115-Million Harvard Pledge
Oracle’s CEO reneges on $115-million pledge to Harvard
Drug Companies Donate to Doctors’ Charities
Gifts by drug companies to doctors’ charities draw scrutiny
South Dakota Donor Gives $70-Million
T. Denny Sanford, a South Dakota banker, gave $70-million on Monday for improvements to the Homestake Gold Mine so that it can be used for science research and an education center, reports The Yankton Daily Press and Dakotan. Mr. Sanford said he hopes the gift to the South Dakota Science and…
Britain’s Biggest Companies Gave $1.9-Billion
The 500 largest business donors in Britain gave 15 percent more to charities last year than they had in 2004, contributing about $1.9-billion in cash and products in 2005, reports The Financial Times, of London. The article—based on the findings of the Charities Aid Foundation’s annual Charity…
Lobbyist’s Charity Paid for Lawmakers’ Trips
A nonprofit group started by a longtime Washington lobbyist with several Massachusetts clients has been paying for members of Congress to attend annual Fourth of July seminars at an exclusive Cape Cod resort with industry representatives, reports The Boston Globe. Critics say the arrangement—in…
L.A. Arts Groups Win Government Funds
Four Los Angeles nonprofit cultural organizations will each receive one-time payments of $5-million from the county government’s surplus money, reports the Los Angeles Times. In addition, the county approved arts grants of $4.5-million in the coming fiscal year, up from $2.2-million the previous…
Stanford University’s Endowment Chief Resigns
Stanford University’s endowment chief, Michael McCaffery, leaves Friday to start a money-management firm with $1.5-billion in seed capital from Microsoft co-founder Paul Allen, reports The Wall Street Journal. Mr. McCaffery oversaw the institution’s fund as it grew from $8.5-billion in 2000 to…