Monday, May 16, 2005

baltimoresun.com - Congress needs to limit pay of executives at nonprofits

baltimoresun.com - Congress needs to limit pay of executives at nonprofits: "nonprofits
Originally published May 15, 2005
THE law seems clear. No profit from tax-exempt charities may benefit 'any private shareholder or individual.'

Yet as The Sun's survey of nonprofit executive pay shows, plenty of individuals are doing very well by associating themselves with charitable organizations.
No, they're not breaking the law. The definition of what lawyers call 'private inurement' of nonprofit assets has narrowed so far as to be practically meaningless."

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