Organization Run at Bar Is No Charity, Tax Court Says
The U.S. Tax Court has ruled that an organization set up at a Vermont lounge to sell lottery tickets to raise money for good works does not qualify as a charity. The organization, KJ’s Fund Raisers, was created by the owners of the KJ’s Place bar and incorporated as a non-profit group under Vermont…
By Vince Stehle and GRANT WILLIAMS
Group That Helps Gay Youth Wins Tax-Exempt Status
The I.R.S. has given charity status to a North Carolina group that counsels gay and lesbian teen-agers after a controversial exchange with the group about its mission. Last year, the I.R.S.'s national office sent the Gay and Lesbian Adolescent Support System in Greensboro, N.C., a four-page missive…
By Vince Stehle and GRANT WILLIAMS
IRS Ruling May Spur Rise in Type of Planned Gift
The Internal Revenue Service has issued a ruling that fund raisers say could make a little-used type of planned gift -- a deferred gift annuity -- more attractive to donors. Gift annuities are set up by contributors who turn over cash or appreciated assets to charities with the understanding that…
By Vince Stehle and GRANT WILLIAMS
The following awards have been presented for work in philanthropy, fund raising, volunteerism, and non-profit management: Arts. The Business Committee for the Arts (New York) and Forbes magazine have named the recipients of the 1997 Business in the Arts Awards: -- The BCA Founders Award went to the…
‘Forbes’: New Rankings of Big Philanthropists
Forbes has joined the growing number of publications that have ranked wealthy people for their philanthropy. Along with its annual list of the nation’s 400 richest people (October 13), the magazine named the 10 who were most philanthropic. Topping the donor list was Walter Annenberg, who has given…
‘Civilization’: the Role of the ‘Genius Grants’
The money and prestige that comes with a MacArthur Fellowship has made a big difference to many recipients, but the awards do not necessarily lead to many path-breaking achievements, says Civilization magazine (October-November) in a cover article. The no-strings-attached awards, often called…
‘Inc.’: Small Businesses Urging Workers to Volunteer
More and more small businesses are coming up with ways to help their employees find opportunities to volunteer at charities, says Inc. magazine (September). “Providing community-service opportunities makes sense, particularly at growing companies that ask people to work long hours,” the magazine…
Coalition Champions Charity Health Care
A group of leaders from non-profit hospitals and other health organizations have formed a coalition to promote their field and to preserve tax-exempt status for non-profit health-care providers. The creation of the coalition comes at a time when more and more hospitals and other health-care…
Supreme Court Takes Legal-Aid Case
The Supreme Court has agreed to review a case involving the financing of legal-aid groups. The case deals with the disposition of interest earnings from pooled accounts that lawyers in many states must use to hold certain kinds of deposits and other payments from their clients. At issue: the…
Charities May Use Internet to Comply With New Rules
Charities can take advantage of a high-tech option to comply with a law that will soon require them to make their informational tax returns easy to obtain, the Internal Revenue Service has said. In new rules it proposed to carry out the law, the service said a charity could post an electronic…
By GRANT WILLIAMS
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