Skip to main content
Philanthropy Journal Home

Philanthropy Journal News

Nonprofitxpress roundup – PipeVine tab grows

 | 

Here’s are the week’s top nonprofit stories:

* PipeVine, a donation-processing center in San Francisco that closed in June, owes charities $18 million, more than initial estimates, United Way of the Bay Area owed half the total, although that amount is disputed, the San Francisco Chronicle reported Oct. 8.

* The IRS is reviewing tax deductions companies took when they donated patents to charities such as research centers and universities because the companies may have overvalued the patents’ value, The Wall Street Journal reported Oct. 6.

* Carnegie Hall in New York City established the Weill Music Institute for music-education programs, named for financier Sanford I. Weill and his wife, Joan, who gave $24.7 million, the largest donation in the organization’s history, The New York Times reported Oct.6.

* Proposition 54, an initiative on the California ballot that would have barred state government from classifying people by race, ethnicity, color or national origin and could have hurt nonprofits that use those classifications when making grants, did not pass, the Los Angeles Times reported Oct.8.

* Charity Commission, the British government’s watchdog, will crack down on charities that break the law by failing to submit accounts and annual returns on time, the Guardian Unlimited reported Oct.2. Last year, 38 percent of charities did not submit those documents on time, or never submitted them.

* The Denver-based J.D. Edwards Foundation, which has given nearly $4 million since it was formed in 1991, is closing, the Associated Press reported Oct. 7. J.D. Edwards & Co. was acquired by PeopleSoft, which is trimming costs to avoid a hostile takeover by Oracle.

* CNN founder Ted Turner, who owns roughly $700 million in bison and land, is promoting his bison burger restaurant chain to help him maintain his assets and his $1 billion pledge to the United Nations, The New York Times reported Oct. 5.

— Compiled by Jennifer Whytock.

Leave a Response

Your email address will not be published. All fields are required.