Charity Officials Evaluate Proposal to End Estate Tax
A long-debated proposal that would eliminate the tax deduction for charitable bequests appears to be gaining momentum in Congress, leading some fund raisers to worry about a significant decline in major gifts from the estates of wealthy donors. Nearly 200 House members, almost all of them…
By Thomas J. Billitteri
Contributor
A Snapshot of Non-Profit Finances
The Internal Revenue Service has issued a report tracing the growth of non-profit groups from the mid-1970s to 1995. The number of charities that filed tax returns with the government rose from 82,048 in 1975 to 180,931 in 1995, while the number of foundations grew from 26,889 to 47,983. The…
Charities give preliminary thumbs-up to proposed IRS regulations on financial abuses, but wait for further clarification The reviews are in: Charities and their lawyers say that the Internal Revenue Service wrote a good first draft of new rules designed to punish people who receive overly generous…
By GRANT WILLIAMS
Contributor
Following are summaries of recent reports by the Council of Better Business Bureaus’ Philanthropic Advisory Service and the National Charities Information Bureau. Those two private organizations report on whether charities meet standards for fund raising, governance, financial management, and…
* Rep. Amo Houghton, a New York Republican, is the next chairman of the House Oversight Subcommittee of the House Ways and Means Committee. He replaces Nancy L. Johnson, a Connecticut Republican. The subcommittee oversees the I.R.S. During Ms. Johnson’s tenure, the panel crafted legislation to give…
By Grant Williams and Jennifer Moore
Advertising Council (New York): Announced the resignation of Ruth A. Wooden, president and chief executive officer, effective this summer. Alternatives in Education for the Hearing Impaired (Mount Prospect, Ill.): Appointed Holly Trueblood, director of resource development at Goodwill Industries of…
How the Next Generation Is Shaping the Non-Profit World
A NEW GUARD EMERGES: Savvy, pragmatic young leaders are reshaping the non-profit world. THE ARTS: The American Poetry & Literacy Project’s founder is on an unusual cultural crusade. EDUCATION: The co-founder of Boston’s City on a Hill Charter School is helping to reshape public education.…
Change in Rules That Govern Taxes on Converted Assets
For-profit corporations that convert to tax-exempt status or that transfer assets to a tax-exempt entity could wind up owing tax to the I.R.S. Under final regulations that implement changes contained in the Tax Reform Act of 1986, a taxable corporation that transfers “all or substantially all” of…
By Jennifer Moore
Contributor
Kemp Group Loses Appeal for Charity Tax Exemption
A federal appeals court has ruled that the Internal Revenue Service was right to deny charity status to a group created to raise money for a private commission that studied ways to change the tax code. The organization, the Fund for the Study of Economic Growth and Tax Reform, was started in 1995.…
By Jennifer Moore
Contributor
IRS Seeks Comment on Gift-Tax Regulations
The Internal Revenue Service is seeking public comment on changes it plans to make in the way estate and gift taxes are calculated and collected. Donors who use charitable annuity lead trusts and some other planned-giving arrangements could be affected by the changes. The proposed rules, which…
By Jennifer Moore
Contributor
Probe Threatens Charity Status of Olympics Group
The U.S. Justice Department is investigating the non-profit group organizing the 2002 Olympic Winter Games in Salt Lake City in the wake of accusations that the group bribed the Olympics officials who decide where the Games are to be held. Although the focus of the investigation is unclear, the…
By Debra E. Blum
Contributor
New Rules for Child-Sponsorship Programs Aim to Curb Abusive Practices
New ethical standards that took effect this month are intended to curb misleading and abusive practices among non-profit groups that focus on poor children. ALSO SEE:The full text of the guidelines on child sponsorship The standards govern the marketing and program operations conducted by charities…
By Stephen G. Greene
Contributor
Elizabeth Dole departs the American Red Cross after 7 years at the helm and hints at a possible bid for the U.S. Presidency The American Red Cross, one of the country’s largest charities, is seeking a new top executive after its high-profile leader, Elizabeth Hanford Dole, announced her departure…
By GRANT WILLIAMS
Contributor
Purpose: Established in 1993 by Richard D. Thau to insure that the views of people in their 20s and 30s are included in national policy debates. Its work includes conducting research, writing opinion articles for newspapers and other publications, providing speakers for college and civic groups,…
His Journalistic Skills Help to Insure That Young Adults’ Voices Are Heard
Richard D. Thau started his professional life not as a charity official but as a journalist, working his way up to senior editor of a national publication called Magazine Week in just six years after his graduation from Haverford College in Pennsylvania. ALSO SEE:Information on Third MilleniumHow…
By Jennifer Moore
Contributor
Purpose: Established in 1996 by Meredith Blake, a lawyer, to help young people avoid domestic violence and to offer legal help to those who have suffered abuse. Finances: The group brought in $250,000 last year, mostly from private foundations, individual donors, and a fund-raising jazz gala. This…