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
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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."
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