Skip to main content
Philanthropy Journal Home

Philanthropy Journal News

Nonprofitxpress roundup – Excessive pay found

 | 

Here are the week’s top nonprofit stories:

* While most foundations do not provide excessive compensation, some give their executives huge salaries, pay trustees who barely work, and give more money to their executives than they award in annual grants, an investigation by the Boston Globe found, the newspaper reported Oct. 9.

* With the number of grantmaking foundations growing 73 percent to 62,000 in the last decade, the IRS is underfunded, having a harder time regulating foundations and able to audit only about 120 foundations a year, the Boston Globe reported Oct.9.

* The IRS is investigating nonprofit credit counseling services that may be abusing their tax-exempt status, which requires them to limit services to poor customers or to providing education and counseling to the public, rather than merely enrolling people in payment plans, The New York Times reported Oct. 14.

* Jeffrey S. Skoll, an eBay founder, gave $183 million to his San Jose-based Skoll Foundation, increasing its endowment $300 million, The New York Times reported Oct.9.

* The Skoll Foundation has started three awards programs that will invest in innovative and entrepreneurial organizations serving Silicon Valley, social-sector capacity and social entrepreneurs who develop innovations that benefit humanity.

* The Robertson Foundation, which pays 75 percent of the budget of Princeton University’s Woodrow Wilson School of Public and International Affairs, wants its $525 million back because, bucking the foundation’s request, the school does not send enough graduates into government work, the Washington Post reported Oct.8.

* The Bill and Melinda Gates Foundation will double to $200 million its grants to fight H.I.V. and AIDS in India, which currently has 4.5 million H.I.V. cases and a 20 percent yearly increase in new cases, The New York Times reported Oct. 13.

* The Gates Foundation will give $25 million through the International Food Policy Research Institute to combat malnutrition in developing countries by improving the nutritional quality of staple food, The Financial Express reported Oct.12.

— Compiled by Jennifer Whytock.

Leave a Response

Your email address will not be published.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