Here’s the week’s nonprofit news:
* The U.S. Supreme Court ruled charity telemarketers can be sued for fraud if they intentionally misrepresent the share of the money they raise that will go to the charity, but said wrongdoing cannot be inferred from high fundraising costs alone, The New York Times reported May 5.
* A top Republican indicated the House was dropping President Bush’s plan to help religious charities get more federal funds for social services, The New York Times reported May 7.
* The Internal Revenue Service is halting its audit of a sample of charities that reported lobbying activities, groups that met with the IRS announced April 30.
* Big financial institutions increasingly are competing with nonprofits to manage money wealthy people donate to charity, the Mercury News in San Jose reported May 4.
* The Nature Conservancy has amassed $3 billion in assets, becoming the world’s richest environmental group, the Washington Post reported May 4. The group paid its president $420,000 in compensation and benefits in 2002, the Post reported.
* U.S. officials since early 1996 have known details about terrorist ties to Islamic charities throughout the world, The Wall Street Journal reported May 9.
* Congress could approve a new tax break that would let artists deduct the fair-market value – not just the cost of their raw materials — of their works that they donate to charity, The Wall Street Journal reported May 8.
* Dutch charities lost tens of millions of euros in the past year because of the slumping stock market, where many groups invested up to 30 percent of their funds, Expatica Netherlands reported May 7.