National-Service Effort Receives $441-Million
Washington President Bush has signed into law a massive spending bill for the 2004 fiscal year that includes $441-million for the AmeriCorps national-service program -- a 62-percent increase in support, the largest in AmeriCorps’s 11-year history. The measure covers spending in the fiscal year that…
By Ian Wilhelm
Contributor
President Bush Asks for New Law to Help Religious Charities
Washington In his State of the Union address, President Bush asked Congress to pass legislation that he said would end discrimination by the federal government against religious charities that seek and obtain federal money. “Religious charities of every creed are doing some of the most vital work…
By GRANT WILLIAMS
Contributor
Harvard offers novel investment option to donorsHarvard University has broken the mold for investing charitable-gift assets.The university is using a novel ruling it received from the Internal Revenue Service in October to allow donors to invest their contributions along with the institution’s…
By Debra E. Blum
Contributor
$30-Million Pledged to University; Other Gifts
The University of California-San Diego, in La Jolla, has received a $30-million pledge from Ernest Rady, founder of American Assets, in San Diego, and chief executive officer of Westcorp, in Irvine, Calif., to support the recently established School of Management. Half of the gift -- $15-million --…
Salvation Army Receives $1.5-Billion Donation From McDonald’s Heiress
In one of the largest gifts ever to a charity, the estate of Joan B. Kroc, the McDonald’s heiress, announced that it plans to give more than $1.5-billion to the Salvation Army. The bequest, which represents 75 percent of the estimated $2-billion estate of Mrs. Kroc, who died of brain cancer in…
By Brad Wolverton
Contributor
Rocky Times at Colorado Foundation
State offices lose out as Daniels Fund makes cutsDenver, Colo. As a pioneer in the cable industry, Bill Daniels amassed a billion-dollar fortune even while spending freely along the way -- on money-losing sports teams, four wives and a parade of ALSO SEE:Changes at Denver’s Daniels Fund: Politics…
By Ben Gose
Senior Editor
One Utah Lawyer Helped Create 8 Groups That Lent Money to Donors or Officers
As The Chronicle analyzed the records of supporting organizations that lent substantial sums of money to their officers or directors, one name appeared repeatedly: Richard H. Bradley, a Salt Lake City lawyer.
By Harvy Lipman
Contributor
Reporting Loans: What the IRS Says
Nonprofits that are required to fill a Form 990 tax return must report loans made to officers and directors, including the borrower’s name, the amount of the loan, the interest rate, repayment terms, and other details.
How The Chronicle Tallied Loans Made by Charities
In a search of IRS Form 990s, The Chronicle found 2,278 nonprofits that listed at least $10,000 in loans to directors, officers, or other key employees.
How a Loan Deal Backfired on One Nonprofit Leader
An executive director has a message for nonprofit groups thinking about making a loan to one of their officials: Don’t.
By Harvy Lipman
Contributor