Nonprofitxpress roundup – Death-tax end revived

Compiled by Donnie Stanley

Here are the latest nonprofit headlines:

*Although Congress voted in 2001 to reduce the death tax gradually over eight years, repeal it entirely in 2010 and then revive it in 2011, the Senate now has agreed to consider eliminating the tax completely, The Los Angeles Times reported April 24.

*President George W. Bush gave less to charity than his father, former President George W.H. Bush, who gave a record 61.8 percent of his adjusted gross income, but still donated more than the average American, who donated less than 2 percent, Newhouse News Services reported April 22. Among U.S. presidents since 1977, Ronald Reagan donated the smallest share, only 2.1 percent.

*Businesses affected by the Sept. 11 attacks can receive gifts from charity groups on a tax-free basis, according to recent Internal Revenue Service letter o the American Bar Association tax section, The Wall Street Journal reported April 25. 

*$353 million, or 77 percent of contributions to support Sept. 11 relief efforts, has been given as direct cash aid to victims of the attacks, according to a report by the New York Regional Association of Grantmakers. 

*Fifty thousand New York workers affected by Sept. 11 won’t receive aid because they did not live or work in Lower Manhattan, according to a study by the United Way of New York City, The Associated Press reported April 23.

*Seventy-five percent of 200 Canadian corporations kept their 2002 community contributions and sponsorship budgets to 2001 levels, despite the Sept. 11 attacks and recession, says a survey by Market Probe Canada Inc., Canada NewsWire reported April 23.

*Members of Congress are creating their own charities and funding them through the House Appropriations Committee, and critics say this may increase the use of political favors and is a conflict of interest, the USA today reported April 21. 

*A study of 1,000 women in the Atlanta area by Georgia State University, requested by the United Way of Metropolitan Atlanta Inc, finds that women are often ignored as a source of charitable giving, the Atlanta Business Chronicle reported April 19.

*Southern Methodist University in Dallas has raised more than $532 million in a five-year fundraising campaign, surpassing its goal of $400 million, the Dallas Business Journal reported April 19.

*World Bank officials have approved a plan that could give $1 billion in aid to developing nations to help enroll all young children into elementary schools, The New York Times reported April 22.

*Individual development accounts, or savings accounts for low-income individuals who receive matching funds from faith-based or nonprofit groups, would be available under the charities bill that goes before the Senate Finance Committee next month, The Washington Times reported April 19.  The bill would expand the number of accounts administered through the Treasury Department to 900,000 from 250 now.

*, a San Francisco-based firm that helps charities gather pledges for walk-a-thons and similar fundraisers through its Web site, is becoming a nonprofit, The Silicon reported April 19. No longer making a profit after two years, the company was given to, an organization that brings together Web developers and nonprofits.

*A report by the Food Commission, a British watchdog group, found that big food firms’ placement of charities’ logos on their products may mislead consumers who believe the logos indicate the products are healthy, the BBC News reported April 23.

*The John Templeton Foundation gave $1 million to 15 scientists to investigate the origins and figure out the meaning of the universe, The Philadelphia Inquirer reported April 6.

*While the Archdiocese of Boston of the U.S. Catholic Church struggles with the recent sex-abuse scandals, many donors are withdrawing pledges to Cardinal Law’s $300 million capital campaign, The New York Times reported April 24.  Church officials also believe that the Cardinal’s Annual Appeal in May could fall short of its goal by half.

*The Salt Lake Olympic Committee posted a $56 million profit and gave $26 million of it to the Utah Athletic Foundation, which received another $4 million from the International Olympic Committee from its share of the games’ profits, reported April 25.

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