Hershey Trust Pressured to Expedite Governance Changes
Pennsylvania’s attorney general is threatening to take trustees of the $12.1 billion charity that controls Hershey Co. to court if they do not implement promised reforms by the end of the month, The Wall Street Journal reports.
Central Park Nonprofit Launches $300 Million Drive
The Central Park Conservancy kicks off the public phase Thursday of a 10-year campaign to raise money for renovations and improvements of many of the park’s iconic but aging features, reports The New York Times.
FEC Finds Violations by Formerly Koch-Linked Nonprofits
Three groups formerly associated with Charles and David Koch’s conservative network have been fined by the Federal Election Commission for breaching campaign-finance rules in their funding of political advertisements, writes The New York Times.
Colleges Dialing Down Endowment Spending as Returns Shrink
Bracing for slim investment gains or outright losses, some colleges and universities are scaling back spending from their endowments on financial aid, faculty, and other expenses, Bloomberg reports.
IRS Reduces Fee for Short-Form Charity Application
The tax agency this month lowered the cost of applying for 501(c)(3) status using the 2-year-old 1023-EZ form from $400 to $275, writes Accounting Today.
House GOP Seeks Federal Scrutiny of Clinton Foundation
Congressional Republicans are circulating a letter calling on the FBI, the Internal Revenue Service, and the Federal Trade Commission to investigate the former first family’s charity for alleged corruption, CNN reports.
Long-Delayed Pa. Industrial Museum Finally Set to Open
After nearly two decades of delay that prompted a grand-jury investigation, the National Museum of Industrial History in eastern Pennsylvania is slated to open its doors on August 2, reports the Allentown, Pa., Morning Call.
Aussie Finance Mogul Donates $75 Million to Alma Mater
The gift from commodities billionaire Graham Tuckwell and his wife, Louise, to Australian National University is the largest donation for higher education in the country’s history, The Canberra Times writes.
World Monuments Fund Cuts Back as Big Donation Runs Out
The international preservation charity is reducing its staff by a quarter as a major source of its funding — a large matching gift from the late hedge-fund mogul Robert Wilson — expires after a decade, The New York Times writes.
Israeli Lawmakers Tighten Rules on Foreign-Funded Nonprofits
The country’s parliament approved a fiercely debated measure Monday that requires groups that get more than half of their financing from governments or political organizations abroad to publicize that fact, the Associated Press reports.
Opinion: It’s Time to Debate Colleges’ Endowment Tax Exemption
Recent congressional inquiries into 56 large universities’ endowments call attention to the fact that many colleges own billions of dollars in real estate but make only small payments to their communities in lieu of paying taxes, according to an opinion piece in The Washington Post.
Critics Question Whether AG Office Demands Will Reform Hershey Trust
Critics are wondering whether voluntary demands made by Pennsylvania’s Attorney General’s office will rein in questionable spending at the embattled Hershey Trust, or if they will be as ineffective as previous attempts, according to the Philadelphia Inquirer.
Overtime Rule Divides Nonprofit Leaders
Some charity leaders say changes will make it more difficult to fulfill their missions. But others welcome the new rule, saying it will protect nonprofit workers from exploitation.
By Rebecca Koenig
Contributor
Embezzlement Cases Accompany Boom in Youth-Sports Groups
As nonprofit youth sports has grown into a multibillion-dollar national enterprise, cases are increasingly cropping up of six-figure thefts by volunteer leaders of local leagues, highlighting a lack of oversight and regulation of organizations built on community trust, The New York Times writes.
Fla. Congresswoman Faces Charity-Linked Corruption Charges
Rep. Corrine Brown has been indicted in connection with her alleged ties to an unregistered charity that raised $800,000 but spent almost nothing on its stated educational mission, the Orlando Sentinel reports, citing unnamed federal law-enforcement officials.
Panel Clears De Blasio-Tied Nonprofit of Campaign Violations
New York City’s campaign-finance body issued a stinging critique Wednesday of an advocacy group’s work in support of Mayor Bill de Blasio’s agenda but said it did not violate rules on political fundraising and spending, reports The New York Times.