MSN Money - Associated Press Business News: Mellon Acquires Charitable Schwab Unit: "Mellon Acquires Charitable Schwab Unit
Associated Press
All Associated Press News
NEW YORK (AP) - Financial services company Mellon Financial Corp. said Friday it acquired a charitable services business from an arm of Charles Schwab Corp., making Mellon the nation's largest provider of planned giving services.
Mellon, which didn't disclose its purchase price, said it acquired the business from U.S. Trust Corp., a wholly owned Schwab unit, adding more than $700 million in planned giving client assets to the company"
Friday, March 31, 2006
Philadelphia Inquirer | 03/31/2006 | Editorial | Senate Ethics Bill Slam this sham
Philadelphia Inquirer | 03/31/2006 | Editorial | Senate Ethics Bill Slam this sham: "Editorial | Senate Ethics Bill Slam this sham
It's official: The Senate believes it can fool all of the people all of the time.
Senators on Wednesday approved, 90-8, an ethics bill that should fool nobody. It's a watered-down, toothless attempt to address the recent lobbying scandals that resulted in one ex-congressman being hauled off to prison for taking bribes, and a Justice Department probe into the influence peddling of former lobbyist Jack Abramoff.
The measure would require lobbyists to file online reports about their activities more often. It would ban registered lobbyists from buying meals or gifts for senators. And it would end the practice of senators blocking legislation or nominations with an anonymous 'hold.'"
It's official: The Senate believes it can fool all of the people all of the time.
Senators on Wednesday approved, 90-8, an ethics bill that should fool nobody. It's a watered-down, toothless attempt to address the recent lobbying scandals that resulted in one ex-congressman being hauled off to prison for taking bribes, and a Justice Department probe into the influence peddling of former lobbyist Jack Abramoff.
The measure would require lobbyists to file online reports about their activities more often. It would ban registered lobbyists from buying meals or gifts for senators. And it would end the practice of senators blocking legislation or nominations with an anonymous 'hold.'"
Senate's lobby reform: strong enough? | csmonitor.com
Senate's lobby reform: strong enough? | csmonitor.com: "Senate's lobby reform: strong enough?
A bill that bans meals and gifts from lobbyists passed Wednesday, but critics say it falls short.
By Gail Russell Chaddock | Staff writer of The Christian Science Monitor
WASHINGTON – As senators hunkered down for a final vote on lobbying reform this week, a US district judge in Miami was sentencing ex-lobbyist Jack Abramoff to nearly six years in prison for fraud.
The buzz from the trial helped the Senate to a 90-8 vote to require more disclosure of lobbyists, but fell far short of the changes that reformers say is necessary to stem corruption."
A bill that bans meals and gifts from lobbyists passed Wednesday, but critics say it falls short.
By Gail Russell Chaddock | Staff writer of The Christian Science Monitor
WASHINGTON – As senators hunkered down for a final vote on lobbying reform this week, a US district judge in Miami was sentencing ex-lobbyist Jack Abramoff to nearly six years in prison for fraud.
The buzz from the trial helped the Senate to a 90-8 vote to require more disclosure of lobbyists, but fell far short of the changes that reformers say is necessary to stem corruption."
Thursday, March 30, 2006
AP Wire | 03/30/2006 | Judge says FEC failed to curb soft money
AP Wire | 03/30/2006 | Judge says FEC failed to curb soft money: "Judge says FEC failed to curb soft money
TONI LOCY
Associated Press
WASHINGTON - The Federal Election Commission failed to give a good reason for refusing to rein in nonprofit political groups that spent huge sums in the 2004 presidential elections, a judge has ruled in a case brought by President Bush's campaign and lawmakers.
In a 34-page opinion, U.S. District Judge Emmet G. Sullivan said the FEC failed to give 'a reasoned explanation' for its decision not to issues rules to require so-called '527' groups to register as federal political action committees and face the same strict fundraising, spending and disclosure rules PACs do."
TONI LOCY
Associated Press
WASHINGTON - The Federal Election Commission failed to give a good reason for refusing to rein in nonprofit political groups that spent huge sums in the 2004 presidential elections, a judge has ruled in a case brought by President Bush's campaign and lawmakers.
In a 34-page opinion, U.S. District Judge Emmet G. Sullivan said the FEC failed to give 'a reasoned explanation' for its decision not to issues rules to require so-called '527' groups to register as federal political action committees and face the same strict fundraising, spending and disclosure rules PACs do."
Sunday, March 26, 2006
newsobserver.com | Nation & World-Relief groups under scrutiny
newsobserver.com | Nation & World: "Relief groups under scrutiny
Jacqueline L. Salmon, The Washington Post
The Louisiana attorney general has launched inquiries into two of the country's best-known charities -- the American Red Cross and the Humane Society of the United States -- after receiving complaints that they misused some of the millions of dollars they raised in the fall to help the human and non-human victims of Hurricane Katrina.
Attorney General Charles C. Foti Jr. plans to announce on Monday that he is looking into allegations that Red Cross volunteers diverted money and supplies meant for hurricane victims in New Orleans, spokeswoman Kris Wartelle said."
Jacqueline L. Salmon, The Washington Post
The Louisiana attorney general has launched inquiries into two of the country's best-known charities -- the American Red Cross and the Humane Society of the United States -- after receiving complaints that they misused some of the millions of dollars they raised in the fall to help the human and non-human victims of Hurricane Katrina.
Attorney General Charles C. Foti Jr. plans to announce on Monday that he is looking into allegations that Red Cross volunteers diverted money and supplies meant for hurricane victims in New Orleans, spokeswoman Kris Wartelle said."
Friday, March 24, 2006
Quincy Herald Whig-Madigan puts charity care legislation on hold
Quincy Herald Whig: "By Kelly Wilson
Herald-Whig Staff Writer
Illinois Attorney General Lisa Madigan has agreed to put on hold her push for legislation that would require the state's nonprofit hospitals to provide a minimum amount of charity care.
'The Illinois Hospital Association has finally agreed to negotiate this bill,' Melissa Merz, a Madigan spokesman, said of House Bill 5000. 'It is too complex to finish in the short session that ends April 7. We've agreed to introduce a bill after negotiations next session.'
Leaders of the Illinois Hospital Association announced the news in a statement sent to the state's hospitals.
'The attorney general and the Illinois Hospital Association will discuss the issues of hospital charity care obligations and hospital property tax exemption, with the goal of drafting acceptable legislation for the 2007 session,' said the statement, written by IHA President Ken Robbins and IHA Senior Vice President Howard A. Peters III."
Herald-Whig Staff Writer
Illinois Attorney General Lisa Madigan has agreed to put on hold her push for legislation that would require the state's nonprofit hospitals to provide a minimum amount of charity care.
'The Illinois Hospital Association has finally agreed to negotiate this bill,' Melissa Merz, a Madigan spokesman, said of House Bill 5000. 'It is too complex to finish in the short session that ends April 7. We've agreed to introduce a bill after negotiations next session.'
Leaders of the Illinois Hospital Association announced the news in a statement sent to the state's hospitals.
'The attorney general and the Illinois Hospital Association will discuss the issues of hospital charity care obligations and hospital property tax exemption, with the goal of drafting acceptable legislation for the 2007 session,' said the statement, written by IHA President Ken Robbins and IHA Senior Vice President Howard A. Peters III."
Baxter Bulletin - www.baxterbulletin.com -If voters approve it, amendment would legalize bingo, raffles
Baxter Bulletin - www.baxterbulletin.com -: "If voters approve it, amendment would legalize bingo, raffles
During election years, this is the time when everyone's focused on who's filing for office more than ballot issues. Voters will pay more attention to those when the November general election gets closer.
However, there's a proposed amendment — courtesy of the General Assembly — folks may not know about, but should be of interest to many in the Twin Lakes Area. It's a proposal that would legalize bingo and raffles for authorized organizations."
During election years, this is the time when everyone's focused on who's filing for office more than ballot issues. Voters will pay more attention to those when the November general election gets closer.
However, there's a proposed amendment — courtesy of the General Assembly — folks may not know about, but should be of interest to many in the Twin Lakes Area. It's a proposal that would legalize bingo and raffles for authorized organizations."
Thursday, March 23, 2006
WSJ.com - Freddie Mac Finance Chief to Resign
WSJ.com - Freddie Mac Finance Chief to Resign: "Freddie Mac Finance Chief to Resign
Move Follows Recent Snags
That Have Delayed Efforts
To Report Results on Time
By JAMES R. HAGERTY
March 23, 2006; Page A3
Freddie Mac said it will replace its chief financial officer, Martin F. Baumann, just three months after offering him a $2 million retention bonus."
Move Follows Recent Snags
That Have Delayed Efforts
To Report Results on Time
By JAMES R. HAGERTY
March 23, 2006; Page A3
Freddie Mac said it will replace its chief financial officer, Martin F. Baumann, just three months after offering him a $2 million retention bonus."
Wednesday, March 22, 2006
SOI Tax Stats - Gift Tax Statistics
SOI Tax Stats - Gift Tax Statistics: "OI Tax Stats - Gift Tax Statistics
What is the Federal Gift Tax?
The Federal gift tax is a tax on the right to transfer property from a living person to other persons or trusts. Reported on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, data are collected on the donor and recipient of gifts that exceed the annual exclusion. The name of the recipient, recipient's relationship to the donor, type of property, and value of gift are reported, as are the total value of a donor's lifetime gifts and tax computation items.
What is the Federal Gift Tax?
The Federal gift tax is a tax on the right to transfer property from a living person to other persons or trusts. Reported on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, data are collected on the donor and recipient of gifts that exceed the annual exclusion. The name of the recipient, recipient's relationship to the donor, type of property, and value of gift are reported, as are the total value of a donor's lifetime gifts and tax computation items.
OMB Watch - Questions Raised About IRS Enforcement Program
OMB Watch - Questions Raised About IRS Enforcement Program: "Questions Raised About IRS Enforcement Program
Complaints filed by two nonprofits illustrate the potential for abuse inherent in the Internal Revenue Service's (IRS) reliance on referrals from the public for leads in its enforcement programs. On March 14, a complaint filed by Citizens for Responsibility and Ethics in Washington (CREW) against Americans for Tax Reform (ATR) and Americans for Tax Reform Foundation (ATRF), alleged activities that 'may violate IRS regulations and require a revocation of their tax-exempt status.' The next day ATR filed a counter-complaint with the IRS against CREW, alleging that CREW, a 501(c)(3) organization, engages in prohibited partisan activity because the majority of its ethics complaints have been filed against Republicans."
Complaints filed by two nonprofits illustrate the potential for abuse inherent in the Internal Revenue Service's (IRS) reliance on referrals from the public for leads in its enforcement programs. On March 14, a complaint filed by Citizens for Responsibility and Ethics in Washington (CREW) against Americans for Tax Reform (ATR) and Americans for Tax Reform Foundation (ATRF), alleged activities that 'may violate IRS regulations and require a revocation of their tax-exempt status.' The next day ATR filed a counter-complaint with the IRS against CREW, alleging that CREW, a 501(c)(3) organization, engages in prohibited partisan activity because the majority of its ethics complaints have been filed against Republicans."
Tuesday, March 21, 2006
Daniels signs charity gambling bill
Daniels signs charity gambling bill: "Daniels signs charity gambling bill
By Lesley Stedman Weidenbener
lstedman@courier-journal.com
The Courier-Journal
INDIANAPOLIS — Gov. Mitch Daniels has signed a bill into law that transfers the regulation of charity gambling to the Indiana Gaming Commission and lets candidates for public office use raffles to raise campaign money.
Currently, the Indiana Department of Revenue regulates the bingo games and other gambling conducted by non-profit groups throughout the state. The department issues more than 2,000 charity gambling licenses annually."
By Lesley Stedman Weidenbener
lstedman@courier-journal.com
The Courier-Journal
INDIANAPOLIS — Gov. Mitch Daniels has signed a bill into law that transfers the regulation of charity gambling to the Indiana Gaming Commission and lets candidates for public office use raffles to raise campaign money.
Currently, the Indiana Department of Revenue regulates the bingo games and other gambling conducted by non-profit groups throughout the state. The department issues more than 2,000 charity gambling licenses annually."
Pastors' Get-Out-the-Vote Training Could Test Tax Rules - New York Times
This site normally requires registration
Pastors' Get-Out-the-Vote Training Could Test Tax Rules - New York Times: "Pastors' Get-Out-the-Vote Training Could Test Tax Rules
*
By DAVID D. KIRKPATRICK
Published: March 21, 2006
WASHINGTON, March 20 — Weeks after the Internal Revenue Service announced a crackdown on political activities by churches and other tax-exempt organizations, a coalition of nonprofit conservative groups is holding training sessions to enlist Pennsylvania pastors in turning out voters for the November elections."
Pastors' Get-Out-the-Vote Training Could Test Tax Rules - New York Times: "Pastors' Get-Out-the-Vote Training Could Test Tax Rules
*
By DAVID D. KIRKPATRICK
Published: March 21, 2006
WASHINGTON, March 20 — Weeks after the Internal Revenue Service announced a crackdown on political activities by churches and other tax-exempt organizations, a coalition of nonprofit conservative groups is holding training sessions to enlist Pennsylvania pastors in turning out voters for the November elections."
Monday, March 20, 2006
TimesDispatch.com | Enhanced deductions explained
TimesDispatch.com | Enhanced deductions explained: "The measure moves the date of conformity to the Internal Revenue Code forward to Dec. 31 from Jan. 7, 2005.
The change's most significant effect is to allow state taxpayers to take advantage of the enhanced deductions for charitable contributions, which would cover relief gifts made for hurricanes Katrina, Wilma or Rita, according to the Virginia Department of Taxation.
The department issued a "
The change's most significant effect is to allow state taxpayers to take advantage of the enhanced deductions for charitable contributions, which would cover relief gifts made for hurricanes Katrina, Wilma or Rita, according to the Virginia Department of Taxation.
The department issued a "
Bradenton Herald | 03/19/2006 | Top lobbyists unfazed by new restrictions
Bradenton Herald | 03/19/2006 | Top lobbyists unfazed by new restrictions: "Top lobbyists unfazed by new restrictionsMany say proposed legislation won't cause drastic changeJEFFREY H. BIRNBAUMThe Washington PostWASHINGTON - Some of Washington's top lobbyists say they expect to find ways around congressional efforts to impose new restrictions on lobbyists' dealings with lawmakers in the wake of the Jack Abramoff corruption scandal, and any limits will barely put a dent in the billions of dollars spent to influence legislation.While Congress may ultimately vote to eliminate a few of the more visible trappings of special pleading, such as gifts, free meals and luxurious trips, lobbyists say they have already found scores of new ways to buy the attention of lawmakers through fundraising, charitable activities and industry-sponsored seminars. An estimated $10 billion is spent annually to influence legislation and regulations, and that spending is not likely to be diminished by the proposed lobbying reform, these lobbyists contend."
Nonprofits urged to adopt IRS model ethics policy
Nonprofits urged to adopt IRS model ethics policy: "Nonprofits urged to adopt IRS model ethics policy
By Ryan McBride, Staff Writer
When a grand jury indicted Roger Williams Medical Center and its CEO, Robert Urciuoli, for their alleged dealings with former state Sen. John A. Celona, and reports of lavish spending by Urciuoli came out, the hospital�s board of trustees had to deal with a scandal rather than focus on health care.
And Blue Cross & Blue Shield of Rhode Island�s board found itself fending off controversy after reports of questionable expenditures by its then-CEO, Ronald Battista, and a $600,000 loan given to him by the nonprofit insurer."
By Ryan McBride, Staff Writer
When a grand jury indicted Roger Williams Medical Center and its CEO, Robert Urciuoli, for their alleged dealings with former state Sen. John A. Celona, and reports of lavish spending by Urciuoli came out, the hospital�s board of trustees had to deal with a scandal rather than focus on health care.
And Blue Cross & Blue Shield of Rhode Island�s board found itself fending off controversy after reports of questionable expenditures by its then-CEO, Ronald Battista, and a $600,000 loan given to him by the nonprofit insurer."
Thursday, March 16, 2006
Investor's Business Daily: Breaking News
Investor's Business Daily: Breaking News: "This month, the Securities and Exchange Commission told Pepsi that it must comply with a shareholder request to disclose its charitable giving. And Pepsi (PBG) is also part of a coalition under the banner of the U.S. Chamber of Commerce which is calling on the SEC to effectively chill out in pursuing companies for wrongdoing; the agency has become a de facto 'federal prosecutor,' the Chamber says in a report spearheaded by former Pepsi executive David Andrews."
Wednesday, March 15, 2006
Taft Signs Gift Card Bill
Taft Signs Gift Card Bill: "COLUMBUS, Ohio (AP) -- Governor Taft has signed a bill that prohibits the sale of a gift card with an expiration date that lasts less than two years.
The new law also prevents retailers from charging fees that reduce the value of the card and ensures that a card without an expiration date is valid until it is redeemed or replaced.
Gift cards given to employees as a reward or cards sold by charitable groups to raise money would be exempt. "
The new law also prevents retailers from charging fees that reduce the value of the card and ensures that a card without an expiration date is valid until it is redeemed or replaced.
Gift cards given to employees as a reward or cards sold by charitable groups to raise money would be exempt. "
Friday, March 10, 2006
Fact Sheet: Compassion in Action: Producing Real Results for Americans Most in Need
Fact Sheet: Compassion in Action: Producing Real Results for Americans Most in Need: "Fact Sheet: Compassion in Action: Producing Real Results for Americans Most in Need
Today, President Bush Addressed The Second White House National Conference On Faith-Based And Community Initiatives, Highlighting The Important Role Corporations And Foundations Play In Funding Social Services.
President Bush Announced There Was An Increase In Competitive Federal Grants To Faith-Based Organizations (FBOs) For The Third Straight Year. More than $2.1 billion in grants were awarded to religious organizations in FY2005 by seven Federal agencies.
This Week, The President Signed An Executive Order Creating The Center For Faith-Based And Community Initiatives In The Department Of Homeland Security (DHS). The Center will coordinate DHS's efforts to remove regulatory, contracting, and other programmatic obstacles to the participation of faith-based and community organizations in its provision of social and community services, including disaster relief and recovery services. "
Today, President Bush Addressed The Second White House National Conference On Faith-Based And Community Initiatives, Highlighting The Important Role Corporations And Foundations Play In Funding Social Services.
President Bush Announced There Was An Increase In Competitive Federal Grants To Faith-Based Organizations (FBOs) For The Third Straight Year. More than $2.1 billion in grants were awarded to religious organizations in FY2005 by seven Federal agencies.
This Week, The President Signed An Executive Order Creating The Center For Faith-Based And Community Initiatives In The Department Of Homeland Security (DHS). The Center will coordinate DHS's efforts to remove regulatory, contracting, and other programmatic obstacles to the participation of faith-based and community organizations in its provision of social and community services, including disaster relief and recovery services. "
Wednesday, March 08, 2006
Executive Order: Responsibilities of the Department of Homeland Security with Respect to Faith-Based and Community Initiatives
Executive Order: Responsibilities of the Department of Homeland Security with Respect to Faith-Based and Community Initiatives: "Executive Order: Responsibilities of the Department of Homeland Security with Respect to Faith-Based and Community Initiatives
By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to help the Federal Government coordinate a national effort to expand opportunities for faith-based and other community organizations and to strengthen their capacity to better meet America's social and community needs, it is hereby ordered as follows:
Section 1. Establishment of a Center for Faith-Based and Community Initiatives at the Department of Homeland Security.
(a) The Secretary of Homeland Security (Secretary) shall establish within the Department of Homeland Security (Department) a Center for Faith-Based and Community Initiatives (Center).
(b) The Center shall be supervised by a Director appointed by Secretary. The Secretary shall consult with the Director of the White House Office of Faith-Based and Community Initiatives (WHOFBCI Director) prior to making such appointment."
By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to help the Federal Government coordinate a national effort to expand opportunities for faith-based and other community organizations and to strengthen their capacity to better meet America's social and community needs, it is hereby ordered as follows:
Section 1. Establishment of a Center for Faith-Based and Community Initiatives at the Department of Homeland Security.
(a) The Secretary of Homeland Security (Secretary) shall establish within the Department of Homeland Security (Department) a Center for Faith-Based and Community Initiatives (Center).
(b) The Center shall be supervised by a Director appointed by Secretary. The Secretary shall consult with the Director of the White House Office of Faith-Based and Community Initiatives (WHOFBCI Director) prior to making such appointment."
Tags:
U.S. Newswire : Releases : "Tax Talk Today(r) March Webcast to Cover..."
U.S. Newswire : Releases : "Tax Talk Today(r) March Webcast to Cover...": "Tax Talk Today(r) March Webcast to Cover Election Year Do's and Don'ts For Charities and Churches
3/7/2006 11:30:00 AM
To: National Desk, Tax, Philanthropy and Religion Reporters
Contact: Shannon K. Gould, 301-588-2900 ext. 102 or sgould@boscobel.com, for Tax Talk Today
WASHINGTON, March 7 /U.S. Newswire/ -- Tax Talk Today, a monthly Webcast aimed at educating tax and payroll professionals on the most contemporary and complex tax issues, today announced the topic of its March program: 'Political Intervention: Do's and Don'ts for Charities and Churches.' The hour-long Webcast is scheduled for Tuesday, March 14 at 2 p.m. EST. Tax professionals involved with 501(c)(3) organizations are encouraged to watch and submit questions.
To access the Webcast at no charge, viewers can register online at http://www.TaxTalkToday.tv."
3/7/2006 11:30:00 AM
To: National Desk, Tax, Philanthropy and Religion Reporters
Contact: Shannon K. Gould, 301-588-2900 ext. 102 or sgould@boscobel.com, for Tax Talk Today
WASHINGTON, March 7 /U.S. Newswire/ -- Tax Talk Today, a monthly Webcast aimed at educating tax and payroll professionals on the most contemporary and complex tax issues, today announced the topic of its March program: 'Political Intervention: Do's and Don'ts for Charities and Churches.' The hour-long Webcast is scheduled for Tuesday, March 14 at 2 p.m. EST. Tax professionals involved with 501(c)(3) organizations are encouraged to watch and submit questions.
To access the Webcast at no charge, viewers can register online at http://www.TaxTalkToday.tv."
Scripps Howard News Service-"IRS guards line that separates democracy from theocracy
Scripps Howard News Service: "IRS guards line that separates democracy from theocracy
By DAVID WATERS
Scripps Howard News Service
08-MAR-06
In some of the most volatile parts of the world, clerics are the political leaders.
Houses of worship are the hotbeds of partisan political activity.
If the government wants to do something, it needs the approval of Holy Scripture, as interpreted by whichever male figures happen to have the most political power.
Not here. Not as long as the Internal Revenue Service is on the case.
Americans debate whether the thing that separates church and state is a wall, a line or just the figment of some secular humanist's imagination.
In fact, the two forces that keep the church out of the state's business are state 'businesses': the courts and the IRS."
By DAVID WATERS
Scripps Howard News Service
08-MAR-06
In some of the most volatile parts of the world, clerics are the political leaders.
Houses of worship are the hotbeds of partisan political activity.
If the government wants to do something, it needs the approval of Holy Scripture, as interpreted by whichever male figures happen to have the most political power.
Not here. Not as long as the Internal Revenue Service is on the case.
Americans debate whether the thing that separates church and state is a wall, a line or just the figment of some secular humanist's imagination.
In fact, the two forces that keep the church out of the state's business are state 'businesses': the courts and the IRS."
Tuesday, March 07, 2006
Proposal would change the way charity is given - gainesvilletimes.com
Proposal would change the way charity is given - gainesvilletimes.com: "Proposal would change the way charity is given
Whalen offers idea to withhold agreed amounts from paychecks
By ALMA BOWEN
The Times
Gus Whalen
An idea that originated in Gainesville may change the federal tax code, spread good will across the country and increase charitable giving.
Gus Whalen suggested the idea, and Rep. Nathan Deal introduced it in the U.S. House. Put simply, it proposes that donations for charitable organizations be withheld from salaries before taxes.
Gus Whalen said it would democratize philanthropy, comparing it to a 401K that employees use to save for retirement.
Funds for a 401K are voluntarily withheld from a salary before taxes and put in a retirement account. Employers can match all or some of the employee contribution, and taxes are paid on the money as it is withdrawn from the retirement fund."
Whalen offers idea to withhold agreed amounts from paychecks
By ALMA BOWEN
The Times
Gus Whalen
An idea that originated in Gainesville may change the federal tax code, spread good will across the country and increase charitable giving.
Gus Whalen suggested the idea, and Rep. Nathan Deal introduced it in the U.S. House. Put simply, it proposes that donations for charitable organizations be withheld from salaries before taxes.
Gus Whalen said it would democratize philanthropy, comparing it to a 401K that employees use to save for retirement.
Funds for a 401K are voluntarily withheld from a salary before taxes and put in a retirement account. Employers can match all or some of the employee contribution, and taxes are paid on the money as it is withdrawn from the retirement fund."
Monday, March 06, 2006
djournal.com-Take note - major change for nonprofits coming soon
djournal.com: "SANDI PULLEN BEASON: Take note - major change for nonprofits coming soon
3/6/2006 8:34:47 AM
Daily Journal
If you work for a nonprofit, pay attention. Major changes could be coming your way soon.
Both houses of Congress are working to finalize parts of the Tax Relief Act of 2005. Among the restrictions included in the Senate bill are measures that would:
- Require larger nonprofits to meet certification requirements on unrelated business income;
- Prohibit donor advised funds at community foundations from making grants to agencies that don't meet certain legal requirements; and"
3/6/2006 8:34:47 AM
Daily Journal
If you work for a nonprofit, pay attention. Major changes could be coming your way soon.
Both houses of Congress are working to finalize parts of the Tax Relief Act of 2005. Among the restrictions included in the Senate bill are measures that would:
- Require larger nonprofits to meet certification requirements on unrelated business income;
- Prohibit donor advised funds at community foundations from making grants to agencies that don't meet certain legal requirements; and"
Inside Higher Ed :: Advice for Senate on Nonprofit Boards
Inside Higher Ed :: Advice for Senate on Nonprofit Boards: "Advice for Senate on Nonprofit Boards
Ever since U.S. Sen. Charles E. Grassley announced last fall that the Senate Finance Committee he leads would investigate the management of American University as part of its overall review of nonprofit governance, college officials at institutions other than American have wondered if and how that inquiry might be broadened, and whether that examination might result in legislation that could apply to higher education generally."
Ever since U.S. Sen. Charles E. Grassley announced last fall that the Senate Finance Committee he leads would investigate the management of American University as part of its overall review of nonprofit governance, college officials at institutions other than American have wondered if and how that inquiry might be broadened, and whether that examination might result in legislation that could apply to higher education generally."
Friday, March 03, 2006
Baltimore Times - Article - education matters
Baltimore Times - Article - education matters:
snip snip>>
"Maryland Senate Bill 946. This legislation proposes a new tax incentive to encourage business investment in Maryland schools. Modeled on Pennsylvania�s highly successful Educational Improvement Tax Credit, BOAST (Building Opportunities for All Students and Teachers) Maryland Tax Credit is designed to provide Maryland elementary and secondary schools with the means of leveraging significant investment from their local business communities. The initiative would allow businesses to claim a 75 per cent state tax credit (rather than a charitable deduction) for donations to 501 (c) (3) organizations that support Maryland�s K-12 students and teachers. "
snip snip>>
"Maryland Senate Bill 946. This legislation proposes a new tax incentive to encourage business investment in Maryland schools. Modeled on Pennsylvania�s highly successful Educational Improvement Tax Credit, BOAST (Building Opportunities for All Students and Teachers) Maryland Tax Credit is designed to provide Maryland elementary and secondary schools with the means of leveraging significant investment from their local business communities. The initiative would allow businesses to claim a 75 per cent state tax credit (rather than a charitable deduction) for donations to 501 (c) (3) organizations that support Maryland�s K-12 students and teachers. "
Thursday, March 02, 2006
State's Hughes Discusses Private, Public Philanthropy
State's Hughes Discusses Private, Public Philanthropy: "State's Hughes Discusses Private, Public Philanthropy
Says U.S. aid now tied to results, nations' investment in their people
The diverse, and sometimes overlooked, ways in which Americans engage in 'the act of giving' were highlighted by the State Department’s Karen Hughes in an address to business leaders in Seattle, Washington.
Speaking on February 27, National Corporate Philanthropy Day, the under secretary for public diplomacy and public affairs said that private, governmental and private-public partnerships reflect 'one of our founding convictions -- that every person has worth, and dignity and value.'
Says U.S. aid now tied to results, nations' investment in their people
The diverse, and sometimes overlooked, ways in which Americans engage in 'the act of giving' were highlighted by the State Department’s Karen Hughes in an address to business leaders in Seattle, Washington.
Speaking on February 27, National Corporate Philanthropy Day, the under secretary for public diplomacy and public affairs said that private, governmental and private-public partnerships reflect 'one of our founding convictions -- that every person has worth, and dignity and value.'
Wednesday, March 01, 2006
Longtime Bush aide stumps in Seattle
Longtime Bush aide stumps in Seattle: "Longtime Bush aide stumps in Seattle
By ANGELO BRUSCAS
P-I REPORTER
From Bill Gates to President Bush to rock star Bono, undersecretary of state Karen Hughes drew on some of her global connections to spread the word in Seattle Monday that private and corporate giving can help reshape lives internationally in a post-9/11 world.
The longtime Bush aide and former presidential communications guru has a new job now – to enhance America’s image abroad.
But on Monday, Hughes met with the Gates Foundation and members of the Initiative for Global Development to encourage Americans at home to do more and give more in world efforts to reduce poverty, eliminate the spread of Aids in Africa and encourage free trade and rebuild countries in chaos after natural disasters such as the tsunami in Indonesia."
By ANGELO BRUSCAS
P-I REPORTER
From Bill Gates to President Bush to rock star Bono, undersecretary of state Karen Hughes drew on some of her global connections to spread the word in Seattle Monday that private and corporate giving can help reshape lives internationally in a post-9/11 world.
The longtime Bush aide and former presidential communications guru has a new job now – to enhance America’s image abroad.
But on Monday, Hughes met with the Gates Foundation and members of the Initiative for Global Development to encourage Americans at home to do more and give more in world efforts to reduce poverty, eliminate the spread of Aids in Africa and encourage free trade and rebuild countries in chaos after natural disasters such as the tsunami in Indonesia."
Anonymous no longer, NGOs must pay tax -INDIA
Anonymous no longer, NGOs must pay tax: "
Home > Budget 2006
Anonymous no longer, NGOs must pay tax
DEEPTI BHASKARAN
Send Feedback E-mail this story Print this story
Posted online: Wednesday, March 01, 2006 at 0039 hours IST
NEW DELHI, FEB 28: Barring an institute or a trust run wholly for religious purposes, any other charitable institution will now have to pay income tax on donations received from anonymous and pseudonymous donors. The Budget today introduced Section 115 BBC in order to tax unaccounted money being contributed to these institutions by way of anonymous donations at a marginal rate of 30 per cent.
Also donations made to any institution with a reference on the manner it is to be used, for instance donation directed towards any university or a hospital run by a trust will be included under the proposed section. The proposed amendment is seen as a positive step, but not very robust."
Home > Budget 2006
Anonymous no longer, NGOs must pay tax
DEEPTI BHASKARAN
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Posted online: Wednesday, March 01, 2006 at 0039 hours IST
NEW DELHI, FEB 28: Barring an institute or a trust run wholly for religious purposes, any other charitable institution will now have to pay income tax on donations received from anonymous and pseudonymous donors. The Budget today introduced Section 115 BBC in order to tax unaccounted money being contributed to these institutions by way of anonymous donations at a marginal rate of 30 per cent.
Also donations made to any institution with a reference on the manner it is to be used, for instance donation directed towards any university or a hospital run by a trust will be included under the proposed section. The proposed amendment is seen as a positive step, but not very robust."
Finance(Sen. Grassley and the Red Cross)
Finance: "2-27-06 Grassley Urges Red Cross to Improve Governance, Respond to Volunteers’ Concerns
American Red Cross’ Response to Sen. Grassley’s Specific Questions in his Dec. 29, 2005, Letter
Documents from the American Red Cross Supporting its Response to Grassley’s Dec. 29, 2005, Letter
Response 1, Response 2, Response 3, Response 4, Response 5, Response 6, Response 7, Response 8"
American Red Cross’ Response to Sen. Grassley’s Specific Questions in his Dec. 29, 2005, Letter
Documents from the American Red Cross Supporting its Response to Grassley’s Dec. 29, 2005, Letter
Response 1, Response 2, Response 3, Response 4, Response 5, Response 6, Response 7, Response 8"
yaledailynews.com - Nonprofits' fees should not carry agenda
yaledailynews.com - Nonprofits' fees should not carry agenda: "Nonprofits' fees should not carry agenda
With New Haven's state and federal funding ebbing fairly consistently, we were heartened to hear that Yale-New Haven Hospital officials have continued negotiating voluntary payments to City Hall in lieu of the taxes from which the nonprofit hospital is exempt. But while it is important for the city to accommodate its current budget problems with all due speed, we are troubled by the hospital's implicit bartering of such funds in exchange for movement on the Yale-New Haven"
With New Haven's state and federal funding ebbing fairly consistently, we were heartened to hear that Yale-New Haven Hospital officials have continued negotiating voluntary payments to City Hall in lieu of the taxes from which the nonprofit hospital is exempt. But while it is important for the city to accommodate its current budget problems with all due speed, we are troubled by the hospital's implicit bartering of such funds in exchange for movement on the Yale-New Haven"
World Crises | Reuters.com -U.S. Muslims seek Treasury meeting on charities
World Crises | Reuters.com: "U.S. Muslims seek Treasury meeting on charities
Tue 28 Feb 2006 9:03 PM ET
WASHINGTON, Feb 28 (Reuters) - A coalition of U.S. Muslim
organizations on Tuesday requested a meeting with Treasury
Secretary John Snow to discuss concerns that Muslim charities
are targeted in the government's counterterrorism efforts.
In a letter to Snow, the American Muslim Taskforce on Civil
Rights and Elections (AMT) said government closures of Islamic
charities have hindered American Muslims' ability to carry out
their religious obligation to help the needy."
Tue 28 Feb 2006 9:03 PM ET
WASHINGTON, Feb 28 (Reuters) - A coalition of U.S. Muslim
organizations on Tuesday requested a meeting with Treasury
Secretary John Snow to discuss concerns that Muslim charities
are targeted in the government's counterterrorism efforts.
In a letter to Snow, the American Muslim Taskforce on Civil
Rights and Elections (AMT) said government closures of Islamic
charities have hindered American Muslims' ability to carry out
their religious obligation to help the needy."
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