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Finance and Revenue

(page 59 of 111)

Ex-NBA Player Charged With Embezzling From Africa Charity

A federal indictment unsealed Wednesday accuses Kermit Washington, a forward who played with several teams in the 1970s and ‘80s, of pocketing hundreds of thousands of dollars from a nonprofit he founded to help needy people in Africa, the Associated Press writes.

Regulators Say Limiting Donor ID Could Hit Anti-Fraud Work

State authorities charged with ferreting out nonprofit malfeasance are concerned their efforts could be hamstrung by legislation now before Congress that would lift the requirement that tax-exempt groups disclose major donors to the Internal Revenue Service, Reuters writes.

Aid Summit Produces ‘Grand Bargain’ to Cut Overhead Costs

Meeting in Turkey this week at the World Humanitarian Summit, governments and aid groups reached agreement on a plan to reduce relief groups’ administrative spending by about $1 billion a year and ensure more donor money reaches people in crisis, reports the Thomson Reuters Foundation.

Former Trustee Jailed in $52 Million Alaska Charity Fraud

Mark Avery was sentenced to 13-plus years after being convicted of using charitable funds for a spending spree on aircraft, boats, and personal expenses in the mid-2000s, The Boston Globe and Alaska Dispatch News write.

How a Nonprofit Motivated Staff to Give to a Capital Campaign

How a Nonprofit Motivated Staff to Give to a Capital Campaign

Getting executives, employees, and board members to donate, a Philadelphia hospital generated buzz and then momentum among donors.

Critics Say Charities Help Drug Companies Cover for Price Spikes

Big pharmaceutical firms are using contributions to “co-pay charities” to deflect criticism of massive price hikes for lifesaving medications, according to a Bloomberg BusinessWeek investigation.

Humanitarian Aid Reached Record $28 Billion in 2015

Relief funding, including $6.2 billion from private donors, increased 12 percent from 2014 but still failed to keep pace with the galloping need for crisis assistance, the Thomson Reuters Foundation reports, citing new data from a research group Development Initiatives.

Planned Parenthood Takes Funding Fight to Nation’s Courts

The nonprofit’s lawsuit against Ohio, filed last week to challenge the state’s revocation of funding for non-abortion health services provided by Planned Parenthood clinics, is the 15th the organization has filed since July amid a wave of such state-level restrictions, Bloomberg writes.

D.C. Consultants Get Windfall From ‘Dark Money’ Nonprofits

Much of the money funneled into election and issue campaigns via nonprofit “dark money” groups ends up with a handful of political-advertising and -consulting firms in Washington and its environs, according to the Center for Responsive Politics.

Mich. Targets Firefighters Group for ‘Deceptive’ Fundraising

State officials have effectively shut down a charity that purported to aid firefighters and victims of home blazes but made only a handful of grants and paid most of the millions of dollars it raised to telemarketers, the Detroit Free Press reports.

Russia’s ‘Foreign Agent’ Law Ensnaring Service Charities

Russian nonprofits addressing HIV, refugees, and other social issues are increasingly facing pressure under a law restricting groups deemed by authorities to be engaging in foreign-funded political activity, according to International Business Times.

Job and Budget Cuts Loom at Brooklyn Museum

The New York institution has offered voluntary buyouts to staff members as part of a belt-tightening aimed at erasing a projected $3 million deficit, The New York Times and The Wall Street Journal write.

San Diego Commission Made Grants to Member’s Nonprofit

First 5 San Diego, which allocates tax dollars for early-education programs, has awarded or committed $1.4 million in recent years to a children’s charity headed by one of its board members, according to The San Diego Union-Tribune.

More Nonprofit Employees Qualify for Overtime Under New Regulation

Full-time salaried workers who make up to $47,476 a year will soon be eligible for overtime pay. The new rules also clarify which types of nonprofit employees are eligible.

L.A. County Seeks ‘Millionaires Tax’ to Tackle Homelessness

The Los Angeles County Board of Supervisors voted Tuesday to push for state legislation authorizing the county to levy a new tax on $1 million-plus incomes to fund housing and programs for the homeless, the Los Angeles Times writes.

Growing Nonprofit Hospital Groups Reach Out to Investors

Big nonprofit health systems born of rapid consolidation in the industry are increasingly trying to sell themselves to investors to ensure they get the best rates when they borrow, writes The Wall Street Journal.