Tax-Shelter Penalties Could Be Applied to Charities
The I.R.S. is telling its agents that they could wield a new weapon -- federal law designed to fight the abuse of tax shelters -- against charities that provide erroneous information to donors about the deductibility of gifts that allows contributors to take bigger write-offs than they should.…
By GRANT WILLIAMS
Contributor
House Passes Tax Break for Foundation Donors
The House of Representatives has approved a tax bill that includes a key break for donors who give appreciated stock to private foundations. The bill, which contains $80-billion in tax cuts over the next five years, would make permanent a tax break for donors who want to use appreciated stock to…
By GRANT WILLIAMS
Contributor
Average Salary Increases 7% for Charity Chief Executives
Top executives at the nation’s health and education charities are earning an average of $161,600 this year -- 7 per cent more than last year, according to a new survey by the Towers Perrin management-consulting company. People who hold less senior positions are not necessarily doing as well: Among…
By DOMENICA MARCHETTI
Contributor
Virginia McKnight Binger, a Minnesotan worth $450-million, was a “near miss” on the latest Forbes magazine list of the 400 wealthiest Americans (October 12). Mrs. Binger might have had an easier time making the list were she not so generous. Mrs. Binger, whose father, a chief executive of 3M, set…
By Thomas J. Billitteri
Contributor
‘Smart Money’:Fund-Raising Aggravation
Pressure tactics. Punishment. Persistence. Those words may sound like suitable strategies to use against a recalcitrant foreign enemy, but Smart Money magazine (October) uses them to describe what it calls “the modern-day rules of engagement when it comes to fundraising.” “Polite persuasion has…
By Thomas J. Billitteri
Contributor
Report Sees Tough Times for Hospitals That Merge
After a short period of financial improvement, non-profit hospitals will face a “bumpy road” over the next five years, says a new report from Moody’s Investors Service, a major bond-rating service. In the long run, however, the financial picture should brighten as many hospitals adjust to a wave of…
By Thomas J. Billitteri
Contributor
California Community Foundation
World-Wide Web site: http://www.calfund.org Created: Site went on line in October 1995 and was completely overhauled in November 1997. Usage: Between 2,700 and 3,300 people use the site each month. Cost: $6,400 to overhaul the site; $27,000 budgeted this year to maintain it. Highlights: The site…
The Christian And Missionary Alliance
World-Wide Web site: http://www.gospelcom.net/cmalliance Created: November 1997 Usage: About 7,500 pages are viewed each month. Cost: About $70,000 to create and maintain the site this year. Costs include computer equipment, software, and the salaries of one full-time and one part-time employee.…
World-Wide Web site: http://www.pbs.org/weblab/living Created: July 1998 Usage: More than 15,000 visitors since July. Cost: The charity received $12,000 from Web Lab, a non-profit group that experiments with new uses of the Internet, to create and maintain the site. Highlights: The “Shared Voices”…
Postal Changes Proposed in House
A House committee is weighing a bill that would offer charities some protection from big postage increases. However, the bill would do nothing to change the increase that takes effect on January 10 (The Chronicle, July 16). The bill was passed by the Postal Subcommittee of the House Committee on…